If you don’t use it, you lose it. Retail FX broker Trendoks, who had received a CIF license a little over a year ago has had their authorization expire. The company must have decided it was not in their interest to fully pursue and operate with a license from CySEC and may be waiting to see what happens with updated FX regs coming out of New Zealand. Currently, Trendoks website doesn’t say anything about the firms regulatory status but lists two business addresses, one from Auckland and the other from London.
Read the official notice from CySEC below:
The Cyprus Securities and Exchange Commission announces that, on 3rd of September
2014, the CIF authorisation of Trendoks Ltd with number 212/13 has lapsed,
pursuant to section 24(1)(a) of the Investment Services and Activities and Regulated
Markets Law of 2007, as in force, as it was not used within twelve months from the date
of its issue.