The Cyprus Securities and Exchange Commission (CySEC) has extended the ban on Igor Gutinskiy, director of Otkritie Broker Ltd, from managing the company for an additional six months due to concerns regarding the company's ties to Russia's Otkritie FC Bank. This ban follows earlier restrictions and aims to prevent Russian interests from dominating shareholder meetings. Otkritie Broker has faced scrutiny since its licensing in Cyprus in 2016, particularly in light of geopolitical tensions. The company voluntarily surrendered its CySEC license recently, following a trend of FX brokers leaving Cyprus, but clients remain protected under the Investor Compensation Fund.

The Cyprus Securities and Exchange Commission (CySEC) has extended the ban on Igor Gutinskiy, director of Otkritie Broker Ltd, from managing the company for an additional six months due to concerns regarding the company's ties to Russia's Otkritie FC Bank. This ban follows earlier restrictions and aims to prevent Russian interests from dominating shareholder meetings. Otkritie Broker has faced scrutiny since its licensing in Cyprus in 2016, particularly in light of geopolitical tensions. The company voluntarily surrendered its CySEC license recently, following a trend of FX brokers leaving Cyprus, but clients remain protected under the Investor Compensation Fund.