Two months after the revocation of Cedar Finance’s license by CySec, its parent company receives a warning

Cypriot financial regulator CySec has today issued a warning to investors with regard to a firm which operates under the name of TBSF, which is an acronym for Best Strategy Finance Ltd, stating that it is not registered in Cyprus, and therefore does not carry the necessary regulatory approval to operate from within Cyprus.

This regulatory warning is a follow up from a previous announcement which CySec made on June 19 this year, whereby CySec revoked the CIF license which had been held by TBSF, at the time operating under the brand name Cedar Finance.

According to today’s warning by CySec, the website from which TBSF is conducting business is rather than its previous Cedar Finance ( site.

At the time of revocation of TBSF’s CIF license, CySec announced that the firm had failed to comply with certain conditions of its CIF license, and had committed an infringement whilst the license had been suspended.

In this case it appears that metamorphosis has not escaped the attentions of the regulator.

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Two months after the revocation of Cedar Finance's license by CySec, its parent company receives a warning


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