The Cyprus Securities and Exchange Commission has warned Cyprus Investments Firms (CIFs) trading in contracts for difference (CFDs) that they must take immediate action to improve their practices, or they shall face enforcement action. CySEC said is introducing additional controls for cross-border services, and that investor protection will be strengthened under new rules regarding how complaints are handled. Where repeated weaknesses and/or a failure to implement remedial measures is detected, CYSEC will impose “significantly higher” fines or proceed with suspending or revoking the respective CIF licence. The ... (full story)