Home Trading Operator of CapitalPanda and ProfitLevel pays €170K to settle charges with CySEC...

Operator of CapitalPanda and ProfitLevel pays €170K to settle charges with CySEC LeapRate

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The Cyprus Securities and Exchange Commission (CySEC) today announced settling BCM Begin Capital Markets CY Ltd for possible regulatory violations. The company, which operates multiple retail trading brands, including CapitalPanda and ProfitLevel, paid €170,000 as a part of this settlement.

According to the Cypriot financial market regulator, BCM Begin Capital Markets, previously known as OX Capital Markets Limited, possibly violated regulation regarding general principles and information to clients and CIF authorisation requirement.

CySEC fine

CySEC stated:

Α settlement has been reached with the CIF BCM Begin Capital Markets CY Ltd («the Company») for possible violations of the Investment Services and Activities and Regulated Markets Law of 2017 – L.87(I)/2017.

The settlement follows an investigation into the company’s operations from January 2021 to April 2022.

Earlier in June, CySEC announced imposing a fine on Maxigrid, operator of FX and CFD trading brands Dualix and AGM Markets, and issuing bans on four directors.

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