In an official press release today from CySEC, the financial regulatory body in Cyprus, it was announced that a public warning has been imposed against Cedar Finance, due to the lack of license for operating within the jurisdiction. Explanatory, this particular firm is a binary options provider, whilst being owned by respectively P.M. Investment Capital Limited, based in Nicosia Cyprus. In turn this also raised questions about the legitimacy of P.M. Investment Capital Limited.
Shockingly, the imposed financial entity was already convicted last year in June 2014, for the infringement of the regulations set by CySEC. At that time did Cedar Finance not only comply with the prerequisites for license activation, but it also mislead the public through operating under the alias T.B.S.F. Best Strategy Finance Limited. Therefore, it is of importance to be cautious when selecting the entities for conducting business with.
Back then, the Cypriot regulatory body immediately revoked Cedar Finance’s license, right after the resulting investigation. However, it wasn’t until recently that CySEC identified that P.M. Investment Capital Limited has been utilizing Cedar Finance’s brand and website for its continued services.
In this particular case, CySEC is still in progress of investigating the suspicious practice of P.M. Investment Capital Limited. According to the regulatory body: "P.M. authorised (no. 243/14) by CySEC to provide investment services in relation to financial instruments." Interestingly, P.M. Investment Capital Limited have been operating under multiple website domains, aside the Cedar Finance site. These domains are outlined below:
After red flagging Cedar Finance, the Cypriot regulator has also issued restrictions on P.M. Investment Capital Limited for any further utilization of the identified websites.
