CySEC Announces €150,000 Settlement with CIF FXBFI Broker Financial Invest Ltd

The Cyprus Securities and Exchange Commission (CySEC) today announced that it has reached a settlement agreement with the Cyprus Investment Firm (CIF) FXBFI Broker Financial Invest Ltd.

According to the Cypriot watchdog, February to August 2020, the broker has possibly violated the Investment Services and Activities and Regulated Markets Law of 2017 and the Directive DI144-2014-14 of the Cyprus Securities and Exchange Commission for the Prudential Supervision of Investment Services Firms.

The settlement reached with the company, for the possible violations, is for the amount of €150,000, which the company has already paid.

CySEC has become extremely vigilant and is actively flagging and taking action against any violations. Earlier, CySEC has announced that the authorisation of the Cyprus Investment Firm VPR Safe Financial Group Limited, number 236/14, is partially suspended.