The Cyprus
Securities and Exchange Commission (CySEC) has issued a
warning to investors regarding nine websites operating without proper
authorization to provide investment services under Cypriot financial
regulations.
Cyprus Regulator Flags
Nine Unauthorized Investment Websites
The
regulator identified
the following unauthorized websites: surgirux.pro, nasanetac.com,
a-eternitycapital.ltd, rohkatech.com, asteo-group.com, elegantopex.com,
ewripro.com, haystdq.com, and eldenstrade.com. None of these entities have
obtained the necessary licenses required under Article 5 of Law 87(I)/2017 to
legally offer investment services or conduct investment activities in Cyprus.
It is worth
noting, however, that at the time of writing, virtually none of the mentioned
domains were operational. The only exception was ewripro.com, which redirects
to a Russian-language portal offering trading services to retail investors.
In its
public notice, CySEC emphasized the importance of due diligence, urging
potential investors to verify the regulatory status of any investment firm
before engaging in business activities. The regulator specifically directed
investors to consult its official website to confirm whether entities are
properly licensed.
Investors
who have conducted business with any of the flagged websites are advised to
contact CySEC or appropriate financial authorities with information regarding
their experiences.
Yesterday
(Tuesday), CySEC also
reached a 200,000 settlement with Colmex Pro, citing possible violations
related to authorization, client protection, and CFD regulations.
Scams on the Rise
This
warning emerges as concerns grow about unlicensed investment platforms
targeting everyday investors. Cyprus serves as an important financial center in
the European Union and closely monitors investment firms operating in the
country.
Throughout
2024, CySEC conducted more than 850 inspections, imposed
€2.76 million in penalties and canceled several operating permits. With new
EU rules now in effect, the regulator is intensifying its compliance monitoring
to better protect investors and ensure financial market stability.
During a
recent media briefing, CySEC Chairman Dr. George Theocharides highlighted the
organization’s key
focus areas, stating that “protecting investors and the further
development of a healthy market” remain at the core of their mission.
Earlier
this year in February, the regulator published a practical handbook on
implementing effective sanctions screening systems. This resource incorporates
findings from CySEC’s recent evaluation of the effectiveness of sanctions
monitoring systems currently used by regulated entities throughout Cyprus.
The Cyprus
Securities and Exchange Commission (CySEC) has issued a
warning to investors regarding nine websites operating without proper
authorization to provide investment services under Cypriot financial
regulations.
Cyprus Regulator Flags
Nine Unauthorized Investment Websites
The
regulator identified
the following unauthorized websites: surgirux.pro, nasanetac.com,
a-eternitycapital.ltd, rohkatech.com, asteo-group.com, elegantopex.com,
ewripro.com, haystdq.com, and eldenstrade.com. None of these entities have
obtained the necessary licenses required under Article 5 of Law 87(I)/2017 to
legally offer investment services or conduct investment activities in Cyprus.
It is worth
noting, however, that at the time of writing, virtually none of the mentioned
domains were operational. The only exception was ewripro.com, which redirects
to a Russian-language portal offering trading services to retail investors.
In its
public notice, CySEC emphasized the importance of due diligence, urging
potential investors to verify the regulatory status of any investment firm
before engaging in business activities. The regulator specifically directed
investors to consult its official website to confirm whether entities are
properly licensed.
Investors
who have conducted business with any of the flagged websites are advised to
contact CySEC or appropriate financial authorities with information regarding
their experiences.
Yesterday
(Tuesday), CySEC also
reached a 200,000 settlement with Colmex Pro, citing possible violations
related to authorization, client protection, and CFD regulations.
Scams on the Rise
This
warning emerges as concerns grow about unlicensed investment platforms
targeting everyday investors. Cyprus serves as an important financial center in
the European Union and closely monitors investment firms operating in the
country.
Throughout
2024, CySEC conducted more than 850 inspections, imposed
€2.76 million in penalties and canceled several operating permits. With new
EU rules now in effect, the regulator is intensifying its compliance monitoring
to better protect investors and ensure financial market stability.
During a
recent media briefing, CySEC Chairman Dr. George Theocharides highlighted the
organization’s key
focus areas, stating that “protecting investors and the further
development of a healthy market” remain at the core of their mission.
Earlier
this year in February, the regulator published a practical handbook on
implementing effective sanctions screening systems. This resource incorporates
findings from CySEC’s recent evaluation of the effectiveness of sanctions
monitoring systems currently used by regulated entities throughout Cyprus.
This post is originally published on FINANCEMAGNATES.
