Tag: CIF

CySEC
February 25, 2022 BY Steffy Bogdanova

CySEC withdraws CIF licence from AGM Markets operator Maxigrid

CySEC said: CySEC reached to the above decision due to the Company’s non-compliance with article 22(1) of the Law, in fulfilling the condition of article 17(9) of the Law at all times, as this is further specified in paragraphs 4(1) and 6(1) of the Directive DI187-01 for the Safeguarding of Client Assets, Product Governance Obligations…

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CySEC regulation
February 10, 2022 BY Steffy Bogdanova

CySEC revises Significant CIF criteria

All Cypriot financial services companies that meet the new criteria of Significant CIFs need to remuneration committee and a risk committee. These committees should be composed of members of the board of directors who do not perform any executive function in the CIF concerned. The companies are also required to submit their new organisational structure…

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cysec cif licence suspension
March 09, 2020 BY Steffy Bogdanova

CySEC suspends CIF licence of Prior Capital Cy Ltd

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…

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July 26, 2016 BY Mike Fox

U.P.M. Ltd renounces CySEC license

The Cyprus Securities and Exchange Commission announced today that on 11th July 2016, the CIF U.P.M. Ltd, which provided investment services via the domain www.upmltd.eu, renounced its authorization 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 authorization with Νumber 084/07…

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July 14, 2016 BY Valentina Kirilova

CySEC starts a Web Portal for Regulated Firms

Cyprus financial regulator CySEC has commenced its Web Portal (Portal) through which the Regulated Entities can submit digitally signed documents/forms/letters to the Commission. It is expected that the cost of printing and storing the physical documents will be eliminated since it will no longer be required to be submitted using this format. The purpose of the…

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May 12, 2016 BY Maria Nikolova

CySEC says ACFX license remains suspended

Further to LeapRate's report from April about the suspension of the Cyprus Investment Firm (CIF) license of Atlas Capital Financial Services Ltd, owner of ACFX, operating via acfx.com, the Cypriot securities regulator today announces that the CIF license of the firm remains suspended. While the suspension of the authorisation is in force, the Company: 1. Cannot…

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March 16, 2016 BY Maria Nikolova

CySEC issues €10,000 administrative fine to SpotOption Exchange, €5,000 fine to BDSwiss

The Cyprus Securities and Exchange Commission (CySEC) has just announces its decision, made at a Board meeting in December last year, to impose administrative fines on SpotOption Exchange and BDSwiss Holding Ltd. Both Cyprus Investment Firms (CIFs) were issued fines for not complying with the Investment Services and Activities and Regulated Markets Law of 2007.…

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