LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
The Cyprus Securities and Exchange Commission (CySEC) announced that, on 27th April 2017, the CIF HiwayFX parent Lucro Capital Ltd renounced its authorisation, pursuant to section 24(1)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (the ‘Law’). Therefore, the CIF authorisation with Νumber 252/14 lapsed as from the abovementioned date.
Lucro Capital Ltd provided investment services via the domains www.lucrocapital.eu; www.hiwayfx.eu; www.hiwayfx.com.
HiwayFX / Lucro received its CySEC license in late 2014, with plans to target services at emerging markets in Africa and Asia.
The Company is obliged to settle within a period of three (3) months, pursuant to section 24(3) of the Law, its obligations arising from the investment services that lapsed.
It is noted that, in accordance with section 25(4) of the Law, the Company remains under the supervision of the CySEC until it settles its obligations arising from the investment services or/and activities that lapsed.