The Cyprus Securities and Exchange Commission (CySEC) has imposed an administrative fine of €100,000 on the Cyprus investment firm BDSwiss Holding Ltd. CySEC said in a statement on 27 July that it had reached the decision "after finding that BDSwiss Holding Ltd enabled offshore companies with which it was associated, to refer on the CIF's status, as a Cyprus Investment Firm, to attract clients to whom they offered investment services in CFDs. "That was without requiring customers to pay initial margin protection and not giving the necessary risk warning, as it would have to, if ...
To continue reading this article...
Join International Investment
Signup and gain exclusive members-only insights
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes
