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CySEC Withdraws CIF License of London Capital Group
The Cyprus Securities and Exchange Commission (CySEC) announced on Tuesday the withdrawal of the Cyprus Investment Firm (CIF) license of London Capital Group (Cyprus) Ltd., citing multiple violations of mandatory compliance requirements. According to the regulator, the broker failed to appoint at least two persons as directors. It further “did not establish adequate policies and procedures to ensure its compliance, including the compliance of its managers and employees, with its obligations under the Law, as it did not ensure that its compliance officer, who is responsible for the compliance function and for any ... (full story)