The Cyprus Securities and Exchange Commission has reached a settlement with FXNET Limited amounting to €225,000. The announcement was made today (Tuesday).

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FXNET operates the brokerage brand EMS Brokers. The company agreed to the settlement following a review under the Investment Services and Activities and Regulated Markets Law.

CySEC Confirms FXNET Settlement Completion

CySEC said the Board took the decision in March this year after examining the company’s operations. The settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term resolves possible breaches identified during the review period. FXNET will pay the amount as part of the settlement. 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 confirmed that no judicial review has been filed in relation to the case.

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Finance Magnates contacted the firm for comment. No response had been received at the time of writing.

FXNET Previously Fined by CySEC

This is not the first time FXNET has faced regulatory action. In 2019, CySEC announced a settlement with the firm, imposing a €60,000 fine for breaches of the Investment Services and Activities and Regulated Markets Law.

FXNET, a Cyprus Investment Firm regulated by CySEC since 2013, is required to comply with local regulations to maintain its trading license, which allows it to provide services across Europe.

CySEC Blocks Public Access to Certification Records

Meanwhile, the CySEC temporarily suspended public access to its Certification Registers. The regulator said the move followed reports that scammers were using personal details of certified professionals to mislead investors.

CySEC emphasized that certification remains a requirement for employment at supervised firms and urged the public to verify identities and companies before sharing personal or financial information. The suspension is intended to protect both investors and certified professionals.

CySEC invited individuals seeking clarification to contact its Certifications Department directly, highlighting ongoing concerns over impersonation and misuse of certification data in the capital market.