Recently,
in August, CySEC (Cyprus Securities and Exchange Commission) warned about nine
websites that do not belong to any entity authorised to provide investment
services. This was the first warning from the Cypriot regulator since June.
While CySEC oversees the largest number of FX/CFD brokers in Europe, its
activity in issuing warnings remains relatively low, especially when compared
with other national regulators.
The August
warning was the ninth of its kind issued by CySEC this year. Such alerts are
not published every month. Overall, CySEC has so far this year flagged 53
websites that investors should approach with caution.
How
CySEC Compares with Other Regulators
Among
European regulators known for actively issuing regulatory warnings, the FCA,
BaFin, AMF and Consob stand out. To get a clearer picture, it is useful to
compare CySEC with CONSOB (Commissione Nazionale per le Società e la Borsa),
which currently appears to be the most active in Europe based purely on the
number of alerts issued.
Of course,
the FCA leads in the absolute number of warnings, but it covers the entire
financial market. Alongside alerts on trading platforms and unauthorised
brokers, the UK regulator also flags issues involving payments, funds and
mainstream financial firms. A comparison with CONSOB therefore provides a
fairer and more relevant benchmark.
Want
deeper insights? Read the full analysis on the Finance Magnates Intelligence
portal.
This article was written by Sylwester Majewski at www.financemagnates.com.
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