Cyprus Securities and Exchange Commission (CySEC) announces withdrawal of the Cyprus Investment Company (CIF) license of FXBFI FXBFI Broker Financial Investments。

The company operates through two approved domain names: www.fxbfi.com and www.101investing.Com。

The regulatory decision was made in response to the company's clear decision to relinquish its license。The withdrawal is in line with section 8 (1) (a) of the Investment Services and Activities and Regulated Markets Act 2017 and section 4 (7) of Directive DI87-05.。

In August 2022, CySEC reached a €150,000 settlement with the company.。The settlement relates to possible violations of the Investment Services and Activities and Regulated Markets Act 2017 and the Cyprus Securities and Exchange Commission's Directive DI144-2014-14 on the Prudential Regulation of Investment Service Companies.。

In June 2023, the Cyprus Securities and Exchange Commission announced a €50,000 fine against FXBFI.。The €50,000 fine relates to negligence in the prevention and suppression of money laundering and terrorist financing。CySEC states that FXBFI does not have adequate and appropriate policies, controls and procedures in place to effectively mitigate and manage the risks of money laundering and terrorist financing.。