CommexFX license suspension prolonged by CySEC

CySEC suspends another CIF license
CySEC suspends another CIF license

According to an announcement made today by CySEC, the Board of the financial markets regulator for the jurisdiction of Cyprus which convened on 29 June 2015 has decided the continuance of the suspension of the Cyprus Investment Firm CommexFX.

The particular license, with number 153/11 was suspended for the first time on 12 June for 15 days as the watchdog said that the broker was in breach of certain rules concerning the operational requirements and the safeguarding of client funds, as these are stipulated in the relevant legislation.

As reported by binaryoptionswire back then, CommexFX was given the two weeks notice to comply with the requirements of CySEC and it appears that it has not yet done so, forcing its regulator to extend the suspension of its license. This time round the Cypriot watchdog mentions no specific time frame for the suspension.

Since during the period that its license is suspended CommexFX is not allowed to provide directly or via its website investment and ancillary services, the forex broker has complied with the decision and therefore its website is not currently operational, but instead shows a brief message informing visitors of the regulatory decision for the temporary suspension of its license.




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