



In 2023, the Cyprus Securities and Exchange Commission (CySEC) conducted more than 700 inspections of supervised entities, both on-site and remotely. As a result of these inspections, fines totaling over $2.2 million were imposed by CySEC. Thematic audits ensured compliance and protected investors. Investigations and sanctions were imposed, and warnings were issued against impersonators. Dr. Theocharides emphasized AI and cryptocurrency regulation. Cyprus remains an attractive investment destination with 830 supervised entities.



Two top executives of IG Group (LON: IGG) have resigned. Charlie Rozes, the Chief Financial Officer, will step down to pursue other opportunities. Noble will be stepping down from his position as Executive Director with immediate effect. However, he will continue to be involved in the business for a limited time to facilitate a smooth transition. The search for Rozes' replacement is underway. IG's financials for Q3 FY2024 show a revenue of £240.1 million, with £176.9 million from OTC derivatives. The number of active clients is 266,800, and total client assets reached £10.1 billion. IG's US subsidiary, tastytrade, achieved a record quarter with $62.6 million in revenue, an 8% increase QoQ and 15% YoY.



Swissquote (SWX: SQN) had a strong financial performance in 2023, with revenue increasing by 30.2% to CHF 531.4 million and pre-tax profit rising by 26% to CHF 270.9 million. The company aims to achieve an annual revenue of CHF 595 million and a pre-tax profit of CHF 300 million in 2024. Moreover, the Swiss brokerage firm is broadening its worldwide footprint. It has ventured into the South African markets through the purchase of Optimatrade Investment Partners, a domestically regulated financial services provider.



XTB UK achieved impressive financial results in 2023. Revenues increased by 21%, net profit by over 100%, and active clients by over 90%. XTB UK's revenue reached £4.7 million, compared to £3.9 million in 2022. The company plans to enter the £400 billion UK ISA market, which could significantly boost its revenues and customer base.

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