Key Insights
- CySEC has revoked the investment services license of Royal Forex Ltd following a February 24 commission meeting.
- The company voluntarily surrendered its authorization, complying with Cypriot legal and regulatory frameworks.
NICOSIA (MarketsXplora) – The Cyprus Securities and Exchange Commission (CySEC) has revoked the investment services license of Royal Forex Ltd, the regulator announced on Tuesday.
The decision, made during a commission meeting on February 24, comes as part of CySEC’s broader regulatory oversight of Cyprus Investment Firms (CIFs). The agency recently reminded CIFs of their obligations under EU-wide regulations, emphasizing compliance with the European Green Deal and the integration of sustainability considerations into financial operations.
According to the announcement, Royal Forex voluntarily renounced its authorization. The withdrawal was carried out in line with Cyprus’ legal framework for investment services and regulated markets, including relevant national legislation and directives.
Royal Forex was previously authorized as a Cyprus Investment Firm, allowing it to provide investment services under Cypriot regulation. The regulatory notice also referenced the company’s legal entity identifier but made no mention of any judicial review or further proceedings related to the decision.
CySEC continues to tighten its regulatory framework to ensure adherence to European financial standards, reinforcing oversight measures in the investment services sector.