Target Wealth has paid the amount of €30.000 to settle with the CySEC.
The Cyprus Securities and Exchange Commission (CySEC) has announced a €30,000 settlement with Target Wealth Opportunities Ltd after “possible violations” of the Alternative Investment Fund Managers Law.
Without really specifying how Target Wealth wronged the law, the regulator stated: “More specifically, the investigation for which the settlement was reached, involved assessing the Company’s compliance in March 2022, with: 1. article 10(1) of the Law regarding changes in the scope of authorization, 2. article 8(2)(d) of the Law as to the conditions for granting authorization concerning the suitability of the shareholders that have qualifying holding.”
Target Wealth has paid the amount of €30.000 to settle with the CySEC.
CySEC warned of scammers impersonating regulator
CySEC has recently spotted a scam where fraudsters claiming to be CySEC’s officers or appointed representatives are soliciting investors for fees in exchange for settlement of fake compensation claims.
The contact often takes place via e-mail, says CySEC, and gives the illusion of an authentic message that contains a promise to help traders get compensation for the potential damage they may have suffered as a result of fraud by regulated forex / CFD brokers.
On top of that, the commission said that a few clone websites are impersonating the organization in many areas and context.
The fake websites are:
a)…
