Cyprus financial regulator CySEC has announced that, at its meeting held on the 10th of February 2025, it decided to grant an additional extension of six months to the suspension of voting rights attached to the shares of Shine Trades (CY) Limited (formerly known as Triumph Int. Cyprus Ltd) held by Chong Chun Hseung.
Shine Trades (CY) Limited formerly operated the TriumphFX retail FX and CFDs brokerage brand, and today operates ShineTrades (at website shinetrades.com).
Chong Chun Hseung, through CCH Triumph Cyprus Trust, is the sole direct shareholder of the company. The regulator said that the suspension will remain in force until the below references are removed from the investor alert lists of the competent regulatory authorities in Singapore and Malaysia.
- Trade name of the Company: Triumph FX
- Approved website of the Company: https://www.triumphfx.com
- Website of Triumph Int. (SC) Ltd: www.tfxi.com
- Company Triumph Int. Ltd
In addition, CySEC is extending the prohibition to the company’s executive directors, Christoforos Christoforou and Joel Prakash Benedict, from performing management duties on the Board of Directors of the Company.
CySEC’s measures taken against Chong Chun Hseung and the company’s executive directors were first enforced in 2023.
