EU regulators’ problems with CySEC and its investment firms
The UK Financial Conduct Authority (FCA) suspended the EU license passporting rules and banned several CySEC-regulated Ínvestment Firms (CIF). Among them Magnum FX, Rodeler, Hoch Capital, and F1Markets. Roy Almagor's two firms - Maxigrid and Maxiflex voluntarily withdrew before the FCA blocked them. The Italian Consob has already blocked some CySEC CIFs from the Italian market before the FCA. Now a problem is also looming from Spain's CNMV as per a CySEC circular. Truth is, that CySEC and its CIFs have long been an issue for EU regulators.