CySEC Says Depaho Should Comply with Legal Measures by the End of the Month

The Cyprus Securities and Exchange Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term) announced on Friday that Depaho Ltd, an investment firm, is allowed until the end of the month to proceed with the necessary actions to comply with the provisions asked by the regulator. In fact, CySEC further extended the suspension imposed on the company.

According to the watchdog, Depaho was granted a deadline set until the end of September 2021 to take the necessary actions to comply ‘with the relevant provisions of The Investment Services and Activities and Regulated Markets Law of 2017 and of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term (EU) no. 600/2014’.

While the suspension is ongoing, the investment firm is allowed to provide or carry out investment services or activities, enter into any business transaction with any person, and accept new customers. Furthermore, Depaho is not permitted to promote itself as a provider of investment services. Accordingly, CySEC established the following: “The Company, provided this is consistent with the wishes of its existing clients, may proceed with the below actions, without such actions being considered as a breach of section 7(a) of DI87-05: Complete all its own transactions and those of its clients which are before it, in accordance with client instructions; Return all funds and financial instruments which are attributable to its clients.”

Depaho Suspension Context

Early in July, CySEC stated that Depaho Ltd violated article 5(1) of the Investment Services and Activities and Regulated Markets Law of 2017, as the company allegedly offers advisory investment services as a regular occupation ‘without the granting of prior authorization’ by the financial supervisor. Also, the watchdog claimed the firm seems to lack understanding of the financial instruments it offers or recommends, allegedly violating article 25 (2)(b). In fact, the watchdog added that Depapho Ltd does not seem to provide transparent, fair and honest information via marketing campaigns.