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CySEC Revokes Suspension of Alvexo's CIF License
On October 24, 2023, the Cyprus Securities and Exchange Commission (CySEC) announced that it decided to recall its decision for the suspension of the authorization of the Cyprus Investment Firm (CIF) VPR Safe Financial Group Ltd, number 236/14. VPR Safe Financial Group is the trading operator of retail broker Alvexo.
According to CySEC, VPR Safe Financial Group has complied with multiple rules and requirements of the Investment Services and Activities and Regulated Markets Law 2017.
The operator's FX & CFD license was initially suspended by CySEC on August 22, 2022, for an alleged violation by the company or via its tied agent France Safe Media, which the Company appointed and acts on its behalf in France. Back in March 2021, VPR Safe Financial Group Ltd reached a €100,000 settlement with CySEC.
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