Turkish forex broker Venbey Yatırım is fined after an on-site inspection by the local authorities.
SPK’dan VENBEY FOREX’e Toplamda 351 666 TRY CEZA!
Аccording to Turkish regulation all client funds are held at Takasbank which belongs to the government, and if a client loses money the broker can withdraw it from Takasbank, and if a client makes money the broker has to update the margins at Takasbank.
Venbey Yatırım was fined TRY 26,049 over its failure to update its margins at Takasbank –
A second penalty of TRY 325,617 was incurred over incorrect reporting of client funds regarding the calculation of capital adequacy ratio.