The regulator highlighted potential breaches in anti-money laundering laws.
The investigation covered the period between 2016 and 2019.
The Cyprus Securities and Exchange Commission
(CySEC) has reached a settlement of an amount worth €200,000 with Fintailor
Investments Ltd. According to the regulator, this settlement relates to
potential breaches of the regulations related to the prevention of money
laundering by the firm.
Implications and Ongoing Examination
CySEC's investigation into Fintailor Investments,
spanning the period 2016-2019, primarily focused on the company's adherence to
anti-money laundering and counter-terrorist financing regulations.
The settlement pertained to various aspects,
including the application of adequate customer identification procedures,
examination of transactions susceptible to money laundering, and compliance
with the responsibilities of the Board of Directors and the compliance officer.
The settlement reached between the CySEC and
Fintailor Investments amounted to €200,000, which the company promptly paid. As
part of CySEC's oversight, Fintailor Investments is reportedly undergoing
examination for voluntary renunciation of its authorization.
Last year, CySEC embarked on a mission to enhance regulatory oversight within the financial sector, specifically focusing on
potential violations by Cypriot Investment Firms (CIFs). The commission
announced a public tender valued at €240,000, seeking two experts specializing in identifying
regulatory breaches.
Delving into CySEC's Regulatory Initiative
CySEC's move underscored its commitment to
bolstering oversight within the financial landscape. The tender, titled
"Provision of services by two experts to conduct investigations regarding
potential violations of the current legislation by CIFs", signaled a
proactive approach towards maintaining regulatory integrity in the CIF space.
CySEC's emphasis on supervisory oversight has
evolved, with CIFs constituting a significant portion of entities under its
purview. In 2022, there were 837 regulated entities overseen by CySEC. However, a CySEC report for 2022 revealed a decline
in CIFs' assets amidst geopolitical disruptions. A notable increase in
client base was attributed to market expansion and evolving post-Brexit
reporting standards.
Recently, CySEC withdrew Investors Compensation Fund (ICF) membership from four Cyprus-based investment
firms: Stone Edge Capital Ltd, Holiway Investments Ltd, FXBFI Broker Financial
Invest Ltd, and KAB Strategy Ltd, Finance Magnates reported.
CySEC's decision to withdraw the CIF authorizations
from these firms led to the subsequent revocation of their ICF memberships.
Despite this step, clients covered by the ICF can still pursue compensation claims
for investment operations conducted prior to the withdrawal of membership. This is subject to meeting the eligibility criteria specified by CySEC.
The Cyprus Securities and Exchange Commission
(CySEC) has reached a settlement of an amount worth €200,000 with Fintailor
Investments Ltd. According to the regulator, this settlement relates to
potential breaches of the regulations related to the prevention of money
laundering by the firm.
Implications and Ongoing Examination
CySEC's investigation into Fintailor Investments,
spanning the period 2016-2019, primarily focused on the company's adherence to
anti-money laundering and counter-terrorist financing regulations.
The settlement pertained to various aspects,
including the application of adequate customer identification procedures,
examination of transactions susceptible to money laundering, and compliance
with the responsibilities of the Board of Directors and the compliance officer.
The settlement reached between the CySEC and
Fintailor Investments amounted to €200,000, which the company promptly paid. As
part of CySEC's oversight, Fintailor Investments is reportedly undergoing
examination for voluntary renunciation of its authorization.
Last year, CySEC embarked on a mission to enhance regulatory oversight within the financial sector, specifically focusing on
potential violations by Cypriot Investment Firms (CIFs). The commission
announced a public tender valued at €240,000, seeking two experts specializing in identifying
regulatory breaches.
Delving into CySEC's Regulatory Initiative
CySEC's move underscored its commitment to
bolstering oversight within the financial landscape. The tender, titled
"Provision of services by two experts to conduct investigations regarding
potential violations of the current legislation by CIFs", signaled a
proactive approach towards maintaining regulatory integrity in the CIF space.
CySEC's emphasis on supervisory oversight has
evolved, with CIFs constituting a significant portion of entities under its
purview. In 2022, there were 837 regulated entities overseen by CySEC. However, a CySEC report for 2022 revealed a decline
in CIFs' assets amidst geopolitical disruptions. A notable increase in
client base was attributed to market expansion and evolving post-Brexit
reporting standards.
Recently, CySEC withdrew Investors Compensation Fund (ICF) membership from four Cyprus-based investment
firms: Stone Edge Capital Ltd, Holiway Investments Ltd, FXBFI Broker Financial
Invest Ltd, and KAB Strategy Ltd, Finance Magnates reported.
CySEC's decision to withdraw the CIF authorizations
from these firms led to the subsequent revocation of their ICF memberships.
Despite this step, clients covered by the ICF can still pursue compensation claims
for investment operations conducted prior to the withdrawal of membership. This is subject to meeting the eligibility criteria specified by CySEC.
Fake Celebrity Ads for Crypto and FX Trading Scams Catch Kiwi Regulator’s Attention
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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🔔 Subscribe to our YouTube channel for more!🔔
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
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Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa