The Cyprus Securities and Exchange Commission has withdrawn the Cyprus Investment Firm authorisation of TTCM Traders Trust Capital Markets Ltd, a CFD broker. The firm offers leveraged trading in forex, indices, commodities, metals and shares.
The decision followed the company’s choice to renounce its authorisation. CySEC said the withdrawal was processed through a decision taken earlier this year and published today (Tuesday).
The case adds to a broader pattern of firms exiting the Cyprus Investment Firm regime through voluntary renunciations. Similar cases have included firms such as Fibo Markets, where authorisations were surrendered rather than maintained.
CySEC Removes TTCM Authorisation in Cyprus
TTCM is no longer authorised to provide investment services under the Cypriot regulatory framework. CySEC confirmed the authorisation has been formally removed and that judicial review does not apply.
In 2024, the regulator also took similar action against Forextime Ltd (FXTM), withdrawing its Cyprus Investment Firm authorisation as the broker exited the Cypriot regulatory regime.
CySEC Issues Reporting Rules for Firms
Separately, CySEC has issued reporting instructions for branches of EU investment firms operating in Cyprus, including CFD brokers, as well as crypto asset service providers registered in the country. Firms are required to submit statistical data covering the previous year through the regulator’s electronic reporting system.
Submissions must be validated through a feedback file, with errors corrected and resubmitted where necessary. CySEC warned that failure to comply may result in administrative penalties.
In addition, the regulator said it will carry out on-site inspections and desk-based reviews during 2026 as part of a wider supervisory exercise coordinated by the European Securities and Markets Authority. The reviews will focus on areas including staff remuneration, platform design, and potential conflicts of interest, to assess compliance with applicable regulatory requirements.
This article was written by Tareq Sikder at www.financemagnates.com.Retail FXRead More
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