CySEC Adds 6 Websites to its Warning List

The Cyprus Securities and Exchange Commission(CySEC) updated its warning list this Monday to include 6 domains which do not belong to an entity having been granted by the commission an authorization for providing investment services and/or performing investment activities, as provided for in Article 5 of Law 87 (I)/2017.

Below are the websites newly added to the CySEC blacklist:

• agefx.io

• goldstein-invest.com

• capital-partnersonline.com

• top-epargne.info

• thebestrader.io

• cryptosworld.trade

CySEC urges investors to consult its website before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities.

Since Cyprus became a European Union member state in 2004, CySEC regulations and operations have had to meet the European financial regulatory framework's terms. To exercise effective supervision, the regulatory body of Cyprus is continuously adding suspicious entities and websites to its blacklist. 

As Fazzaco reported earlier, new prudential framework for CIFs will be implemented in June this year​. Specifically, on December 2019, CySEC published the new framework in accordance with the Investment Firms Regulation (EU) 2019/2033 (IFR) and Investment Firms Directive (EU) 2019/2034 (IFD), effective from June 26, 2021.