CySEC Imposes €2,000 Fine on M&L Invest Union Markets
- Yet another forex brokerage has been fined by the Cyprus regulator.
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 today that following a meeting held on 25 July 2016, it has decided to impose an administrative fine of €2,000 on M&L Invest Union Markets Ltd for non-compliance with the law.
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The brokerage, which trades under the url www.belarta.com and describes itself as a an STP/DMA broker that offers both retail and institutional services for clients has, according to CySEC’s statement today, violated article 3 of Implementing 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 680/2014 of the European Commission and paragraph 61(4) of the CySEC’s Directive DI144-2014-14 for the Prudential Supervision of Investment Firms.
While CySEC’s statement does not offer specific details relating to the broker’s wrong-doings, the directive which the firm has been pulled up on applies to companies who fail to apply appropriate policies and procedures to ensure sufficient compliance with the procedural regulatory requirements.
Today’s fine by CySEC follows a series of penalties imposed on financial service operators who break the watchdog's rules and regulations, most recently, on the operator of binary options brokerage brand of TechFinancials, OptionFair, which was fined €138,000 in July.
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 today that following a meeting held on 25 July 2016, it has decided to impose an administrative fine of €2,000 on M&L Invest Union Markets Ltd for non-compliance with the law.
Take the lead from today’s leaders. FM London Summit, 14-15 November, 2016. Register here!
The brokerage, which trades under the url www.belarta.com and describes itself as a an STP/DMA broker that offers both retail and institutional services for clients has, according to CySEC’s statement today, violated article 3 of Implementing 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 680/2014 of the European Commission and paragraph 61(4) of the CySEC’s Directive DI144-2014-14 for the Prudential Supervision of Investment Firms.
While CySEC’s statement does not offer specific details relating to the broker’s wrong-doings, the directive which the firm has been pulled up on applies to companies who fail to apply appropriate policies and procedures to ensure sufficient compliance with the procedural regulatory requirements.
Today’s fine by CySEC follows a series of penalties imposed on financial service operators who break the watchdog's rules and regulations, most recently, on the operator of binary options brokerage brand of TechFinancials, OptionFair, which was fined €138,000 in July.