12 November, AtoZForex.com, Lagos – In line with its duties and responsibilities, the Cyprus Securities and Exchange Commission (‘the Commission’) has again red flagged the activities of a firm, which has been found to be providing investment and ancillary services in the region without due authorization.
Apparently, Noerus Capital, which operates via the website (http://www.noeruscapital.com/) is not permitted by CySEC to provide investment and ancillary services in the Republic, pursuant to Investment Services and Activities and Regulated Markets Law, as:
- It has never been authorized by the Commission
- Ιt is not a bank or a cooperative firm, established in the Republic and unauthorized to provide such services.
- No notification has been received by a competent authority of another Member State,
The website of the firm is currently inactive. However, it remains unclear if this is a result of the CySEC warning against the firm.
Bullet investment warning
With the Noerus Capital warning from CySEC, the firm joins the likes of Bullet investment on the CySEC blacklist. Bullet investment was recently red flagged as well by the Cypriot regulator. The firm was discovered to be providinginvestment and ancillary in a range of financial assets, which includes Forex, metals and commodities. The broker offers both brokerage services and managed account services, which ideally require distinct license for operation. However, Bullet investment had no authorization to carryout any of its offered operations in the jurisdiction of Cyprus.
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