The Cyprus Securities and Exchange Commission (CySEC) has announced that it has extended the suspension of Depaho Ltd.’s license. Depaho Ltd is the parent company of FXGM and its license was suspended in July 2021.
The violations include provision of the investment advice without the prior permission of the CySEC; failure to take all reasonable steps to identify, prevent or manage conflicts of interest; not acting honestly, fairly and professionally when providing investment services to clients, in accordance with the best interests of its clients; not providing information, including marketing communications, to its clients or potential clients that is fair, clear and not misleading; etc.