CySEC Announces €270,000 Settlement with CIF Forex TB Ltd

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

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

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More specifically, the investigation for which the settlement was reached, involved assessing the company's compliance, for the period of April 2020 to December 2021, following its internal auditors report of April 2020 and other information examined.

The settlement reached with the company, for the possible violations, is for the amount of €270,000, which the company has already paid.

Last week, CySEC has reached a settlement agreement with Credit Financier Invest (CFI) Limited, holding a CIF license. As part of the settlement, the company has paid €150,000 to CySEC for possible regulatory violations.