According to Finance Feeds, the Cyprus Securities and Exchange Commission has reached a settlement agreement of € 200000 with Trek Labs Europe Ltd (formerly FTX EU), a subsidiary of FTX Europe. The investigation found that the company had three violations between March and November 2022, including governance deficiencies, failure to provide fair and clear information to customers, and inadequate procedures for assessing the suitability of retail customers. FTX EU previously held a Cyprus Investment Company (CIF) license, which has been suspended multiple times since the bankruptcy of FTX Group in November 2022.