|
CySEC has
announced today (6th of November
2009) its resolve to eradicate
illegal FX Brokerage Firms operating
in Cyprus. The announcement states
that persons who bring about or
undertake on behalf of others
transactions in Spot Forex or
Rolling Spot Forex (i.e. which
either do not aim to physically
deliver foreign exchange currency or
are not materially settled in cash),
are obliged by the 6th of December
to:
1. Either apply for a Cyprus
Investment Firm license, or
2. Stop offering the said services.
Furthermore,
CySEC warned that following this one
month compliance period, it will
take stringent measures against
persons who do not comply with the
relevant legislation.
For more
information , click
here!
|
