Vinson Financials renounces CySec license

Vinson FInancials, a retail FX brokerage which is based in Cyprus, has renounced its CySec license, as reported by the Cypriot regulatory authority. According to CySec, the regulatory license from CySec was renounced on May 23 this year, however the company’s operations would remain under the auspices of CySec until such time that it is […]

Vinson Financials renounces CySec license

Vinson FInancials, a retail FX brokerage which is based in Cyprus, has renounced its CySec license, as reported by the Cypriot regulatory authority.

According to CySec, the regulatory license from CySec was renounced on May 23 this year, however the company’s operations would remain under the auspices of CySec until such time that it is able to settle any liabilities arising from any investment services that the company has provided whilst licensed by CySec and until all such activities are terminated.

Vinson Financials continues to operate, and whilst the company’s website lists registered addresses in London, Belize, Wilmington Delaware and Limassol, no regulatory information is listed on the site.

The company’s main audience has been Russia and the former Soviet Union, now known as the Commonwealth of Independent States, and Vinson Financials’ website now states “Vinson Financials Group of companies does not offer Contracts for Difference to citizens of certain jurisdictions such as the United States of America, united Kingdom, European Union, Australia and Japan or any other jurisdiction where FX trading and/or CFD trading is restricted or prohibited by local regulatory bodies.”

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