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CySEC suspends CommexFX license



By Mikel on Monday,

CySEC suspends CommexFX license.


Cyprus-based Forex and CFD Broker CommexFX. CySEC regulation has its teeth with the announcement of the suspension of the license of Cyprus Investment Firm CommexFX Ltd.

CySEC suspends CommexFX license

CySEC suspends CommexFX license, the Cyprus Securities and Exchange Commission announces that the authorization of the Cyprus Investment Firm ‘CommexFX Ltd’ (‘the Company’), with number 153/11, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law (‘the Law’), as there are suspicions of an alleged violation of section 28(1) of the Law, due to the Company’s possible non compliance with the condition if its authorization provided for in section 18(2), paragraphs (i) and (j), of the Law, ‘Operational requirements – Clients’ funds’, as specialized in Part VI of the Directive DI144-2007-01 of 2012, ‘Safeguarding of clients’ funds’.

The suspension is temporary then  for 15 days, where the retail Forex brokers are measures to implement the identified by the Cypriot control problems.

Source: cysec

 

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