The Cyprus Securities and Exchange Commission (CySEC) has announced that the authorisation for providing Administrative Services of the company Mutual Trust Limited, with number 44/196, is suspended, pursuant to section 15(1)(b) of the Law Regulating Companies Providing Administrative Services and Related Matters of 2012.
There have been suspicions of an alleged violation of section 23(1) of the Law, due to Mutual Trust Limited’s possible non-compliance, at all times, with the authorisation condition provided for in section 7(2) (persons who effectively manage the business) of the Law.
The decision has been reached as the aforementioned alleged violation may possibly endanger Mutual Trust Limited’s clients’ interests.
Within onе week the company has to take actions in order to comply with the aforementioned provisions.
While the suspension of the authorisation is in force, Mutual Trust Limited cannot provide or perform any administrative services.