In its recent statement, the Cyprus Securities and Exchange Commission (CySEC) has changed its decision regarding the suspension of Cyprus Investment Firm (CIF) License of Centralspot Trading. Initially, the company was given 15 days to comply with all the requirements.
As we have posted earlier in November about the CySEC’s decision to suspend the CIF Centralspot Trading license in whole, as there were suspicions of an alleged violation of the Regulated Markets Law.
According to the CySEC’s license, Centralspot Trading operates two brands, forex and CFD broker Opteck and a trading software firm FXVC. You may check our full Opteck review here.
At CySEC’s meeting dated 18 November 2019 decided to recall the suspension of the authorisation of the Cyprus Investment Firm Centralspot Trading Ltd, number 238/14, as it has been satisfied that the company has complied with. This has included satisfaction prudential requirements for credit institutions and investment firms, in relation to its capital ratio.
The Cyprus Securities and Exchange Commission, better known as CySEC, is the financial regulatory agency of Cyprus. It supervises and controls the operation of the Cyprus Stock Exchange, grants operation licenses to investment firms, including investment consultants, brokerage firms, and brokers, impose administrative sanctions and disciplinary penalties. You can read the detailed article about the Cyprus Securities and Exchange Commission here.