I saw over at Forex Magnates and another site that the reason for the fine appears to be the fact that UFX Markets weren't really operating from Cyprus with the company not having any real physical presence in the jurisdiction. With the UFX Markets representative stating that Cysec fine related...
Lots of the big investment banks reach these kind of agreements where they pay a hefty fine and admit no wrongdoing, when the investigation and proceedings would be costly. If I remember correctly Goldman Sachs settled for $550m in 2010 and thus didn't have to admit wrongdoing, this appears to...
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