RoboMarkets Pays €100K in CySEC Settlement Over Retail CFD Rules
RoboMarkets settled with CySEC for €100,000 over retail CFD rule breaches.Summary
RoboMarkets Ltd has reached a €100,000 settlement with Cyprus Securities and Exchange Commission (CySEC) for alleged breaches of investment services rules, including the sale of contracts for difference (CFDs) to retail clients. The regulator noted violations concerning organisational rules, client information provision, and appropriateness assessments, and had previously ordered the firm in 2023 to cease offering non‑monetary rewards such as race tickets and branded merchandise to retail clients. The settlement, which the firm has already paid, follows a broader compliance review that examined marketing, distribution and product suitability practices, while the company has shifted its focus away from European retail CFDs toward a Middle East expansion under a Category 1 licence from Dubai’s Securities and Commodities Authority.
(Source：Financial And Business News | Finance Magnates)