CySEC Reaches Settlement with Teletrade for €120,000

The Cyprus Securities and Exchange Commission (CySEC)​ announced that it has reached settlement agreement with the Cyprus Investment Firm Teletrade-DJ International Consulting Ltd (“the Company”). The company has paid the amount of €120,000 for possible regulatory violations.

According to the regulatory body, the company possibly violated the Investment Services and Activities and Regulated Markets Law of 2017 ("the Law"). More specifically, the on-site investigation dated 20.12.2018, for which the settlement was reached, involved assessing the Company’s compliance with:

1. Article 22(1) of the Law as to the authorisation condition laid down in article 17(2)(b) of the Law, regarding the organisational requirements with which a CIF is required to comply.

2. Article 25(1) of the Law, regarding general principles and information to clients.

3. Article 26, paragraphs (2)(a) and (3), of the Law, regarding the assessment of suitability and appropriateness of the clients.

4. Article 28, paragraphs (1)(a), (3), (6), (7) and (8), of the Law, regarding the obligation to execute orders on terms most favorable to the client.

Founded in 1994, Teletrade-DJ International Consulting Ltd is a leading broker that offers access to trading in different financial markets, and it has over 200 offices in 30 countries and over 3000 employees