The Cyprus Securitiesand Exchange Commission has reached a €100,000 settlement with RoboMarkets Ltdover possible breaches of investment services rules, including restrictions onthe sale of CFDs to retail clients.The settlement is notthe first regulatory action against RoboMarkets. In 2023, CySECordered the broker to stop offering non-monetary rewards, including racetickets and branded merchandise, to retail clients. The regulator said thepractice breached EU product-intervention rules on CFDs.RoboMarkets FacesCompliance ReviewRoboMarkets hasalready paid the settlement amount, according to a notice published by CySEC.The regulator's reviewexamined several areas of the broker's operations. These included itsorganisational requirements, the information provided to clients and theprocedures used to assess whether investment products were appropriate forclients.CySEC Withholds Details of ViolationsCySEC also examinedthe company's compliance with rules governing the marketing, distribution andsale of CFDs to retail clients.CySEC did not disclosethe specific practices or incidents that led to the possible violations.Under Cypriot law,CySEC can settle cases where there are reasonable grounds to believe that abreach of the legislation it supervises may have occurred.Finance Magnates contacted RoboMarkets forcomment on the settlement. As of publication, the broker had not responded.RoboMarkets Targets Middle EastMeanwhile, RoboMarketshas shifted away from retail CFDs in Europe and expandedits focus in the Middle East. The group obtained a Category 1 licence fromDubai’s Securities and Commodities Authority for its local entity, RobomarketsMENA for Financial Brokerage.The entity wasestablished in July 2024. The Category 1 licence allows the firm to providesecurities dealing and brokerage services, including trading in global markets,non-exchange-traded derivatives and spot FX.This article was written by Tareq Sikder at www.financemagnates.com.