“D Prime”, the retail and institutional brokerage arm of Doo Group, appears to be vacating its Limassol office following recent staff layoffs.
One employee told FinanceMagnates.com that staff had been informed the broker would leave the premises within two weeks. This is one of two offices operated by the Doo Group in the city. The broker confirmed to FinanceMagnates.com that “Doo Group is realigning its operational structure.”
Join IG, CMC, and Robinhood at London’s leading trading industry event!
About a month ago, Doo Prime dismissed its entire Cyprus-based marketing department. Since then, the broker appears to have expanded the layoffs to include employees from other departments as well.
- Singapore Retail Investors May Get Grant and Legal Resources, MAS Proposes
- Blueberry Markets Promotes Head of Trading to COO After One and a Half Years
- The Five Pitfalls a New Chief Compliance Officer Should Avoid in the First 3 Months
The broker told FinanceMagnates.com that “In preparation for the next phase of its global growth strategy, Doo Group is realigning its operational structure to enhance efficiency and concentrate resources within key strategic regions. Doo Group extends its sincere appreciation to all team members for their dedication and contributions over the years. The Group remains committed to supporting employees throughout this transition.”
D Prime was rebranded from Doo Prime only recently. Doo Group received a Cyprus Investment Firm license in September last year, according to the regulatory register, and announced it publicly in November. The license allows the company to offer derivative products, including contracts for difference, across Europe.
The broker’s website states that it also holds licenses in the United States, the United Kingdom, Australia, Hong Kong, Malaysia, and Indonesia.
Malaysian Authorities Inspect Doo Group Office
Meanwhile, Doo Group confirmed that its Malaysian office was recently inspected by local authorities. The company said the visit was part of a broader nationwide campaign targeting illegal call centres and similar operations.
In a statement, Doo Group noted that the inspection was one of several conducted at business premises across the country. The company emphasized that its operations remain fully compliant and that it is cooperating with authorities by providing requested information.
The firm highlighted that compliance, governance, and accountability are central to its operations and stated that its internal standards are intended to ensure such matters are addressed promptly.
