The Cyprus Securities and Exchange Commission (CYSEC) announced in the end of last week the suspension of Cyprus Investment Firm (CIF) authorisation of Prior Capital Cy Ltd.
The agency suspended CIF licence number 221/13 because of suspicions of an alleged violation of the Investment Services and Activities and Regulated Markets Law of 2017 regarding the safeguard of clients’ funds.
The Commission decided to suspend the CIF licence of Prior Capital Cy Ltd after the violations of the law caused concerns about risk in the protection of the company’s clients and a threat to the orderly operation and integrity of the market.
The company has twenty days to take actions and comply with the provisions of the suspension.
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