The Cyprus Securities and Exchange Commission (CySEC) said it has fined €30 000 the Leadcapital Markets Ltd. According to CySEC, the sanction was imposed because the company has not acted honestly, fairly and professionally in accordance with the best interests of its clients in Romania.

More specifically, Leadcapital Markets Ltd. allowed the provision of services by its branch in Romania before the latter was entered in the public register kept by the supervisory authority of Romania. This occurred during the period between end July/beginning August 2016 until July 2017, and is a violation section 36(1) of the Investment Services and Activities and Regulated Markets Law of 2007.

Thanks for sharing this. So, basically they were operating without a license. In my view the imposed fine is too small for such a serious violation.

LazarR wrote: Thu Apr 12, 2018 10:54 pm Thanks for sharing this. So, basically they were operating without a license. In my view the imposed fine is too small for such a serious violation.

I was wondering about the relatively small fine too, sometimes CySEC imposes much bigger fines. BDSwiss, for example, paid EUR 150,000 for running their business unethically.