CySEC suspends TriumphFX shareholders' rights over management issues.
The regulator mentions warnings against the broker in Malaysia and Singapore.
The Cyprus
Securities and Exchange Commission (CySEC) has announced enforcement measures
against local investment firm Triumph Int. (Cyprus) Ltd, the operator of the TriumphFX
trading brand, due to concerns over the influence of its sole indirect
shareholder, Chong Chun Hseung.
CySEC Takes Action against
TriumphFX Operator
In a
statement released on 21 December, CySEC said it has suspended Hseung's voting rights, exercised through the firm's direct shareholder CCH Triumph
Cyprus Trust. The regulator has also prohibited Triumph's executive directors, Christoforos Christoforou and Joel Prakash Benedict, from performing management duties for two years.
These
actions are linked to TriumphFX and other associated companies being named on
investor alert lists by regulators in Singapore and Malaysia. According to
CySEC, Hseung's influence over Triumph is seen as detrimental to
the sound and prudent management of the firm.
The
measures will come into effect after two months and remain until Triumph FX and
related entities are removed from the investor alert lists in the foreign
jurisdictions. The company can seek a judicial review of CySEC's
ruling.
Interestingly,
TriumphFX has been on the Singaporean MAS warning list for over two years,
specifically since 4 August 2021. It was added to the Malaysian regulatory
commission's list even earlier, in 2020.
TriumpFX on Singaporean MAS warning list
Similar warning was published by Malaysian regulator.
CySEC said
its decision aims to address the situation and protect investors. The regulator
has powers under local legislation to take such enforcement actions when it
deems management issues, or shareholder influence are undermining licensed
investment firms.
Also this
week, CySEC informed it is searching for experts specializing in identifying
potential regulatory violations. The regulator has posted a new public tender,
seeking two experts in the undertaking, valued at €240,000.
Justification for CySEC’s Enforcement
Measures
Although
the English document from CySEC did not provide additional details, the original
Greek statement outlined the factors considered when determining enforcement actions against Triumph. The
regulator views the influence of shareholders as a potentially serious issue that could undermine
investment firms, and local legislation provides authorities the power to
address such situations.
Suspending Hseung's voting rights as the ultimate beneficial owner removes his
decision-making ability over the company. Prohibiting the executive directors
he appointed from management duties similarly limits his influence over
operations. CySEC sees
these measures as effectively targeting the problematic shareholder influence while allowing Triumph the time to address the outstanding
investor warnings.
The
two-month implementation timeframe allows the firm to
seek removal from the Singapore and Malaysia alert lists. In essence, CySEC has deliberately targeted mechanisms through which Hseung
exercises control to incentivize the resolution of these alerts. The agency states that this approach safeguards sound governance and prudent management of the regulated entity.
The Cyprus
Securities and Exchange Commission (CySEC) has announced enforcement measures
against local investment firm Triumph Int. (Cyprus) Ltd, the operator of the TriumphFX
trading brand, due to concerns over the influence of its sole indirect
shareholder, Chong Chun Hseung.
CySEC Takes Action against
TriumphFX Operator
In a
statement released on 21 December, CySEC said it has suspended Hseung's voting rights, exercised through the firm's direct shareholder CCH Triumph
Cyprus Trust. The regulator has also prohibited Triumph's executive directors, Christoforos Christoforou and Joel Prakash Benedict, from performing management duties for two years.
These
actions are linked to TriumphFX and other associated companies being named on
investor alert lists by regulators in Singapore and Malaysia. According to
CySEC, Hseung's influence over Triumph is seen as detrimental to
the sound and prudent management of the firm.
The
measures will come into effect after two months and remain until Triumph FX and
related entities are removed from the investor alert lists in the foreign
jurisdictions. The company can seek a judicial review of CySEC's
ruling.
Interestingly,
TriumphFX has been on the Singaporean MAS warning list for over two years,
specifically since 4 August 2021. It was added to the Malaysian regulatory
commission's list even earlier, in 2020.
TriumpFX on Singaporean MAS warning list
Similar warning was published by Malaysian regulator.
CySEC said
its decision aims to address the situation and protect investors. The regulator
has powers under local legislation to take such enforcement actions when it
deems management issues, or shareholder influence are undermining licensed
investment firms.
Also this
week, CySEC informed it is searching for experts specializing in identifying
potential regulatory violations. The regulator has posted a new public tender,
seeking two experts in the undertaking, valued at €240,000.
Justification for CySEC’s Enforcement
Measures
Although
the English document from CySEC did not provide additional details, the original
Greek statement outlined the factors considered when determining enforcement actions against Triumph. The
regulator views the influence of shareholders as a potentially serious issue that could undermine
investment firms, and local legislation provides authorities the power to
address such situations.
Suspending Hseung's voting rights as the ultimate beneficial owner removes his
decision-making ability over the company. Prohibiting the executive directors
he appointed from management duties similarly limits his influence over
operations. CySEC sees
these measures as effectively targeting the problematic shareholder influence while allowing Triumph the time to address the outstanding
investor warnings.
The
two-month implementation timeframe allows the firm to
seek removal from the Singapore and Malaysia alert lists. In essence, CySEC has deliberately targeted mechanisms through which Hseung
exercises control to incentivize the resolution of these alerts. The agency states that this approach safeguards sound governance and prudent management of the regulated entity.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
CFD Broker RA Prime Joins Financial Commission for Dispute Resolution Support
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
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As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
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Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
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When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
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As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
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-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
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🎥 TikTok: / fmevents_official
Mind The Gap: Can Retail Investors Save the UK Stock Market?
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As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
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Speakers:
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-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
