简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:CySEC, the Cypriot financial market regulator, maintains its war on noncompliance, announcing enforcement action against two more regulated entities on Tuesday, Ayers Alliance Financial Group Limited and BrokerCreditService (Cyprus) Limited.
Ayers Alliance broke staffing rules in risk management department appointments.
BCS (Cyprus) failed to establish a system for suspicious transaction detection.
The Cypriot financial market supervisor, CySEC, continues its crackdown on non-compliance and announced on Tuesday enforcement action against two more regulated companies, Ayers Alliance Financial Group Limited and BrokerCreditService (Cyprus) Limited.
Ayers Alliance was found to violate the regulators mandatory staffing requirements for its risk management department. Now, the regulator has ceased the company from using personnel without the skills, knowledge, and expertise required for the performance of the responsibilities of the Head of the Risk Management Department.
But, BrokerCreditService is facing an administrative fine of €10,000 for non-compliance with Cyprus market abuse laws. The company did not establish and maintain effective arrangements and systems for detecting suspicious transactions. Thus, it was not taking into account the circumstances of change in the price of the financial instruments in which it is trading, which may give rise to reasonable suspicions that a transaction on the financial instrument could constitute insider dealing.
Both companies offer investment and trading services to their client base.
BrokerCreditServices offerings under the CySEC license include electronic access through its trading system for the sale and purchase of equities and derivatives on MICEX (Russia), LSE, and several other trading exchanges.
Additionally, the Russian sister company of BCS Cyprus became one of the very few locally regulated forex brokers in the country.
However, Ayers Alliance offers asset management and structure investment products services. The company was previously known as Harborx Ltd.
Meanwhile, CySEC has been very active in taking action against non-compliant entities recently. Within the past few days, the regulator withdrew the Cyprus Investment Firm (CIF) license of three companies, but all of them voluntarily decided to renounce their licenses.
Furthermore, the Cypriot regulator is actively blacklisting fraudulent financial services companies that are targeting clients within its jurisdictions. Most of these companies are offshore entities illegally offering services or outright frauds making false claims.
IC Markets
XM
FPMarkets
EasyMarkets
HYCM
Squared Financial
Admiral Markets
KAB
Tickmill
Fortrade
TFI
Alvexo
AAA Trade
NessFx
Colmex Pro
WARNING: Trading Forex and CFDs has a high level of risk and may result in the loss of your invested cash. You should not invest more than you can afford to lose, and you should be completely aware of the hazards involved. Investing in leveraged products may not be appropriate for all investors. Please examine your level of expertise and investment goals before trading, and obtain independent financial advice if required. Before making any trading choices, please verify that you completely understand the risks.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Brokers are often classified into two categories: A-book and B-book brokers. Understanding these distinctions can help traders choose the right broker for their trading needs. In this article, we’ll delve into what A-book and B-book brokers are, how they operate, and the key differences between them.
Bangkok, Thailand — Following a grand day-long fintech gala, “The Deeper · The Richer” — WikiEXPO Thailand 2024 has successfully concluded today.
Two of the most notorious frauds are the pyramid scheme and the Ponzi scheme. Understanding these differences is essential for avoiding these traps and recognizing the red flags of financial fraud.
In the world of online trading, various account types and trading models allow investors to participate in the market with varying levels of involvement. Among the most popular are social trading, copy trading, PAMM (Percentage Allocation Management Module), and MAM (Multi-Account Manager) accounts.