The Cyprus financial regulator, CySEC, announced that it has reached settlements totaling €90,000
with two FX and CFD companies over separate compliance violations that occurred in
2021.
The Cyprus
Securities and Exchange Commission stated that it settled with Broctagon Prime Ltd for €50,000 over potential client information violations, while Exclusive Change Capital Ltd agreed to pay €40,000 for potential breaches of organizational requirements.
Both
companies have already paid their respective settlement amounts, with all funds
going directly to Cyprus’s treasury rather than the regulator itself.
Broctagon Prime Pays €50K
to Settle Cyprus Regulator Dispute
CySEC
investigated whether the company violated articles 25(1) and 25(3)(a) of Cyprus
investment services law, which govern how financial firms must communicate with
their clients. The regulator didn’t specify exactly what information Broctagon
Prime failed to provide or how the alleged violations occurred.
Broctagon
Prime, which operates as a liquidity and technology provider for FX and CFD
trading, has already paid the full settlement amount. The company holds a
market maker license from CySEC and has been regulated by the authority since
2017.
The
settlement represents the second penalty CySEC has announced this year
involving a Cyprus-based financial firm. In May, the regulator reached a
separate €20,000 settlement with ZFN Europe Ltd over licensing violations.
CySEC
emphasized that settlement funds go directly to Cyprus’s treasury rather than
to the regulator itself. The commission has authority under Cyprus law to
settle potential violations when it believes reasonable grounds exist that
rules were broken.
Exclusive
Change Capital Pays €40,000 Over Organizational Requirements
The second
settlement involves retail trading company Exclusive Change Capital Ltd, which recently rebranded as
EXCA Prime in May 2025. CySEC investigated the company’s compliance with
organizational requirements between January and August 2021.
The
violation relates to article 22(1) of Cyprus investment law regarding
authorization conditions, specifically organizational requirements that Cyprus
Investment Firms must follow under article 17(5)(b).
Exclusive
Change Capital operates under CySEC regulation and provides multi-asset trading
services to institutional and private clients. The company achieved ISO/IEC
27001:2013 certification earlier, becoming the first financial
institution in Cyprus to receive this recognition from certification body
MSECB.
Broctagon FinTech Group
Broctagon
Prime operates as part of the Broctagon FinTech Group and provides trading
services across multiple asset classes including spot foreign exchange ,
commodities and contracts for difference. The company targets both retail
traders and institutional clients.
In April,
FinanceMagnates.com reported that the company incorporated Takeprofit Tech’s
investment management solution into its brokerage platform, enabling foreign
exchange brokers to manage multiple customer accounts using a mini-hedge fund
structure.
Neither
settlement constitutes an admission of wrongdoing by the companies involved,
and CySEC’s announcements didn’t indicate whether either firm faced additional
operational restrictions.
The Cyprus financial regulator, CySEC, announced that it has reached settlements totaling €90,000
with two FX and CFD companies over separate compliance violations that occurred in
2021.
The Cyprus
Securities and Exchange Commission stated that it settled with Broctagon Prime Ltd for €50,000 over potential client information violations, while Exclusive Change Capital Ltd agreed to pay €40,000 for potential breaches of organizational requirements.
Both
companies have already paid their respective settlement amounts, with all funds
going directly to Cyprus’s treasury rather than the regulator itself.
Broctagon Prime Pays €50K
to Settle Cyprus Regulator Dispute
CySEC
investigated whether the company violated articles 25(1) and 25(3)(a) of Cyprus
investment services law, which govern how financial firms must communicate with
their clients. The regulator didn’t specify exactly what information Broctagon
Prime failed to provide or how the alleged violations occurred.
Broctagon
Prime, which operates as a liquidity and technology provider for FX and CFD
trading, has already paid the full settlement amount. The company holds a
market maker license from CySEC and has been regulated by the authority since
2017.
The
settlement represents the second penalty CySEC has announced this year
involving a Cyprus-based financial firm. In May, the regulator reached a
separate €20,000 settlement with ZFN Europe Ltd over licensing violations.
CySEC
emphasized that settlement funds go directly to Cyprus’s treasury rather than
to the regulator itself. The commission has authority under Cyprus law to
settle potential violations when it believes reasonable grounds exist that
rules were broken.
Exclusive
Change Capital Pays €40,000 Over Organizational Requirements
The second
settlement involves retail trading company Exclusive Change Capital Ltd, which recently rebranded as
EXCA Prime in May 2025. CySEC investigated the company’s compliance with
organizational requirements between January and August 2021.
The
violation relates to article 22(1) of Cyprus investment law regarding
authorization conditions, specifically organizational requirements that Cyprus
Investment Firms must follow under article 17(5)(b).
Exclusive
Change Capital operates under CySEC regulation and provides multi-asset trading
services to institutional and private clients. The company achieved ISO/IEC
27001:2013 certification earlier, becoming the first financial
institution in Cyprus to receive this recognition from certification body
MSECB.
Broctagon FinTech Group
Broctagon
Prime operates as part of the Broctagon FinTech Group and provides trading
services across multiple asset classes including spot foreign exchange ,
commodities and contracts for difference. The company targets both retail
traders and institutional clients.
In April,
FinanceMagnates.com reported that the company incorporated Takeprofit Tech’s
investment management solution into its brokerage platform, enabling foreign
exchange brokers to manage multiple customer accounts using a mini-hedge fund
structure.
Neither
settlement constitutes an admission of wrongdoing by the companies involved,
and CySEC’s announcements didn’t indicate whether either firm faced additional
operational restrictions.
This post is originally published on FINANCEMAGNATES.
