CySEC Blacklisted Nine More Unlicensed Investment Websites
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The Cyprus Securities and Exchange Commission (CySEC) recently issued another warning to investors, this time listing nine more investment websites that the regulator had blacklisted. According to its warning, all nine were operating without obtaining proper authorization that would allow them to provide investment services under Cypriot financial regulations.
CySEC identified the following as unlicensed investment platforms: nasanetac.com, surgirux.pro, a-eternitycapital.ltd, rohkatech.com, elegantopex.com, asteo-group.com, weripro.com, haystdq.com, and eldenstrade.com.
None of the entities have obtained the licenses required by the law to legally offer investment services, or even conduct investment activities in Cyprus. However, it is also worth noting that none of the domains are operational other than ewripro.com, which redirects visitors to a portal offering trading services to retail investors, but it uses the Russian language.
CySEC Reminded Investors To Verify Investment Platforms’ Regulatory Status
Given the situation, there is little danger that the citizens of Cyprus could be endangered by any of these platforms, but it is still better to be aware of the issue in case similarly named platforms emerge to replace the blacklisted ones.
CySEC also emphasized the importance of due diligence, urging potential investors to verify the regulatory status of investment firms before they start using their platforms. Users can consult the regulator’s own official website to confirm whether such entities are properly licensed.
In the meantime, those who have conducted business on one or more of the flagged websites are advised to reach out to CySEC or other appropriate financial authorities with information regarding their experiences.
The warning came around the time when concerns involving unlicensed investment platforms targeting retail investors saw a significant increase. In this battle, CySEC remains an important financial center for the entire EU. Last year alone, it conducted over 850 inspections, imposed 2.76 million EUR in penalties, and canceled multiple operating permits.
Now that the EU has new rules in effect, the regulator is also intensifying its compliance monitoring to protect investors better and make sure that the financial markets will remain as stable as possible.
