CySEC took action against W.G. Wealth Guardian Ltd by suspending its license for not meeting legal requirements such as capital obligations and client fund management. The firm is barred from offering investment services or taking on new clients during the suspension but can complete ongoing transactions and return client assets.
CySEC in Cyprus has made significant strides in enhancing antimoney laundering efforts in the crypto sector, aligning with FATF guidelines and implementing measures to regulate CryptoAsset Services Providers. This progress has been positively acknowledged by Moneyval, highlighting Cyprus’s commitment to robust financial oversight and international cooperation.
CySEC fined MCA Intelifunds Ltd. €360,000 for various violations, highlighting the importance of regulatory compliance and protecting investors. The penalties underscore the significance of firms acting in clients’ best interests and adhering to legal obligations set forth by the Cyprus Securities and Exchange Commission.
The Cyprus Securities and Exchange Commission (CySEC) is actively participating in Global Money Week 2024, focusing on promoting financial literacy and educating individuals on avoiding investment risks. Through a series of events, university lectures, school presentations, updated guides on online investments, and social media campaigns, CySEC is dedicated to spreading awareness and empowering the public with financial knowledge.
The Cyprus Securities and Exchange Commission (CySEC) and the University of Cyprus have joined forces to promote financial literacy. Through educational events, data analysis, and curriculum integration, they aim to enhance public knowledge on smart investments and the importance of economic education, ensuring a financially stable future for all.
