Nicosia, 25 June 2013 – The Cyprus Securities and Exchange Commission (CySEC) published a note to bring the public’s attention that, pursuant to section 37(4) of the Cyprus Securities and Exchange Commission Law, it reached a settlement with LQD Markets Ltd (ex Tadawul Fx Ltd), for the amount of €80.000.
The settlement reached concerns potential violations in the application of the Investment Services and Activities and Regulated Markets Law of 2007, as amended (the “Law”).
The alleged violation concerns article 36 of the Law. The Company appeared to have been offering investment services through third parties without first obtaining CySEC authorization.
The Company has ceased the cooperation with the said third parties.
The Company has paid the amount of €80.000
Founded under the name Tadawul FX in 2006. Under the direction of a new and dynamic management team, the company underwent a significant transformation to Liquid Markets in 2012 in a step to expand it services in the European markets.