CySEC-regulated broker 3angleFX fined €50,000

Rick Steves

CySEC found that Triangleview failed to comply with the jurisdiction’s regulation regarding the protection of clients’ funds.

The Cyprus Securities and Exchange Commission, the country’s financial watchdog and one of the leading regulators providing an EU passport to FX and CFD brokers across the globe, has fined Triangleview Investments Ltd.

Triangleview Investments Ltd, which holds a CIF license with CySEC, offers access to CFD trading covering FX, Stocks, Commodities, Indices, and Cryptos via MetaTrader 5 and cTrader through three websites: triangle.markets, 3anglefx.com, and 3angleview.com.

€50,000 fine for issues with the protection of clients’ funds

CySEC found that, between the period December 2021 and February 2022, the company failed to comply with the jurisdiction’s regulation regarding the protection of clients’ funds.

Triangleview reached a settlement with CySEC for the amount of €50.000, which is considered revenue of the Treasury of the Republic and does not constitute income of CySEC.

According to the license it holds regarding ancillary services, the company may provide the following ancillary services:

1. Safekeeping and administration of financial instruments, including custodianship and related services.

2. Granting credits or loans to one or more financial instruments, where the firm granting the credit or loan is involved in the transaction Foreign exchange services where these are connected to the provision of investment services.

3. Foreign exchange services in connection with the provision of investment services.

As to investment services, Triangleview is authorized to provide the following investment services:

1. Reception and transmission of orders in relation to one or more financial instruments

2. Execution of orders on behalf of clients

 

 

Read this next

Industry News

CFTC wins case against broker for secretly taking other side of client orders in block trades

“As we said at the outset of this case, the illegal use of inside or confidential information undermines confidence in markets and will not be tolerated.”

Technology

BankiFi raises $4.8m to bring embedded banking platform to North America

“Our mission is to make all aspects of cash management and payments easier for SMBs everywhere, and this investment is another huge step to making that a reality.”

Executive Moves

Shieldpay hires ex-Payoneer Chris Andrews as Head of Sales

“We’ll be expanding our position in existing markets and accelerating growth into new verticals, whilst building on our direct and indirect channels.”

Digital Assets

Crypto.com secures preliminary approval to operate in Canada

Crypto.com, one of the longest-established crypto platforms, has become the first digital asset platform to sign a Pre-‘Registration Undertaking’ with the Ontario Securities Commission (OSC) in Canada.

Retail FX

CySEC hits IC Markets One with regulatory warning

The Cyprus Securities and Exchange Commission has once again stepped up its fight against unauthorized brokers.

Uncategorized

XTAGE now offers bitcoin and ether trading to 3.6M Brazilian investors

Brazilian financial services giant XP has officially launched its crypto trading platform XTAGE, which was built on major American stock exchange Nasdaq’s trading technology.

Institutional FX

FX volume drops 7pct at CLS Group in July 2022

FX settlement specialist CLS Group today reported that the executed volumes of currency trading on its platforms were notably down in July.

Digital Assets

Web3 startup PIP integrates with Binance ecosystem

Web3 payment provider PIP has announced integration with the Binance ecosystem, which allows the firm to vastly develop and propose needed products and improvements that are worthy of competing with others chains.

Industry News

Celsius $750m insurance claims are fraud, says lawyer seeking EU crypto superfund

“It is an intentional deception in aid of a billion-dollar securities offering.”

<