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Cyprus Securities and Exchange Commission
(CySEC)
- Introduction to CySEC
The Cyprus Securities and Exchange Commission (CySEC) is the financial regulatory authority of Cyprus, established to oversee and regulate investment services, transactions in transferable securities, and the operations of collective investment schemes. As a member of the European Securities and Markets Authority (ESMA), CySEC operates in full compliance with the European MiFID II directive, ensuring high standards of transparency, investor protection, and market integrity.
YoForex Corporate Pty Ltd’s Authorization by CySEC
YoForex Corporate Pty Ltd is proud to have been authorized by CySEC as a Cyprus Investment Firm (CIF). This authorization allowed YoForex to provide investment and ancillary services within the scope of the Investment Services and Activities and Regulated Markets Law of 2007. Through this license, YoForex demonstrated its commitment to regulatory compliance and adherence to CySEC’s stringent guidelines, ensuring a secure and trustworthy environment for clients’ financial transactions and investment activities.
Scope of Authorization:
Under the CySEC authorization, YoForex was permitted to:
- Offer investment services, including portfolio management, financial advice, and execution of orders on behalf of clients.
- Manage and safeguard client funds and financial instruments with the highest level of security.
- Operate under CySEC’s stringent regulatory framework, ensuring transparency and protection for investors.
- Cyprus Securities and Exchange Commission (CySEC) – Authorization Certificate
YoForex Corporate Pty Ltd is authorized by the Cyprus Securities and Exchange Commission (CySEC) as a Cyprus Investment Firm (CIF) under the Investment Services and Activities and Regulated Markets Law of 2007. This authorization permits us to provide investment and ancillary services in accordance with CySEC regulations. Our company is also authorized to manage clients' financial instruments and funds with full regulatory oversight, ensuring compliance with CySEC’s rigorous standards.
- Cyprus Securities and Exchange Commission (CySEC) – Regulatory Decision
On July 22, 2023, CySEC approved the formal renunciation of the Cyprus Investment Firm (CIF) authorization for YoForex Corporate Ltd. This decision follows the company’s notification to renounce its CIF authorization, effective from July 6, 2023. The regulatory process was carried out in full compliance with CySEC’s guidelines, as specified under Directive DI87-05 for the withdrawal and suspension of authorization.
- Regulatory Decision on Authorization Renunciation
As part of its strategic operational restructuring, YoForex Corporate Pty Ltd voluntarily renounced its CySEC authorization. On July 22, 2023, CySEC approved the company’s request for the renunciation of its Cyprus Investment Firm (CIF) authorization, effective July 6, 2023. The process followed CySEC’s Directive DI87-05 for the Withdrawal and Suspension of Authorizations and was implemented with full regulatory compliance.
This decision aligns with YoForex's evolving business strategy, ensuring a streamlined approach to global market operations, while maintaining full compliance with the relevant regulatory frameworks in the jurisdictions in which it operates.
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Why CySEC Matters
As a key regulatory body in the European Union, CySEC plays a pivotal role in maintaining the integrity and stability of financial markets in Cyprus and across Europe. Firms authorized by CySEC are required to comply with comprehensive regulatory standards, which include:
- Investor Protection: CySEC ensures that investment firms operate with full transparency and prioritize the protection of client assets.
- Regulatory Oversight: CySEC monitors the activities of licensed firms to ensure they comply with all relevant laws and regulations, mitigating risks and maintaining market stability.
- Compliance with European Directives: CySEC-authorized firms, including YoForex Corporate Pty Ltd, align with European regulations, including MiFID II, which governs markets in financial instruments across the EU.
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Conclusion
At YoForex Corporate Pty Ltd, we maintain a strong commitment to regulatory excellence. Our association with the Cyprus Securities and Exchange Commission (CySEC) not only demonstrated our dedication to following industry-leading standards but also positioned us to offer secure and transparent investment services to our global clientele. While we have strategically chosen to renounce our CIF authorization, we continue to operate under the highest regulatory standards across other jurisdictions, ensuring trust and security for all our clients.