CySEC Fines Forex24 Operator Again for Reporting Delays

The Cyprus Securities and Exchange Commission (CySEC) has fined Lydya Financial Ltd — operator of Forex24 and Forex24 Global — €850 for missing the 2024 Risk-Based Supervision Framework (RBSF-CIF) filing deadline. The penalty, imposed on September 8 and published on October 24, marks the second sanction against the firm this year.

In August, Lydya was fined €100 for failing to submit its first-quarter QST-CIF report. While both sums are small, the repeat offenses highlight ongoing weaknesses in the company’s compliance systems.

CySEC said the late filings breached Circular C706, part of its data-driven supervision framework. Consultants in Nicosia noted the fines aim to “enforce discipline rather than collect revenue.”

Lydya’s lapsed Legal Entity Identifier further points to administrative lapses. The next test for the firm will be its Q3-2025 report due by the end of October — a timely submission could indicate improved internal controls, while another delay may bring steeper penalties.