CySec informs that the CIF license of a Cyprus Investment Firm continuous to be suspended 

CySEC

The Cyprus Securities and Exchange Commission (CySec) has issued today a press release to inform regarding its decision for the Continuance of Suspension of CIF licence.

According to CySec, following previous announcement dated 15 February 2016, the Cyprus Securities and Exchange Commission announces that the authorisation of the Cyprus Investment Firm ‘Trademarker (Cyprus) Ltd’, with number 151/11, continuous to be suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law (‘the Law’).

While the suspension of the authorisation is in force, Trademarker (Cyprus) Ltd:

1. Cannot provide/perform any investment services/activities, pursuant to section 26(5) of the Law.

2. Must, if existing clients so wish, without being considered in violation of section 26(5) of the Law,:
2.1. Close all open positions in relation to clients’ contracts, or of its own, on their maturity date or on an earlier date if the client so wishes.
2.2. Return to existing clients all of their funds and profits earned.

Section 26(2) of the Investment Services and Activities and Regulated Markets Law (‘the Law’) says that:

The Commission may suspend a CIF authorisation when there are suspicions for an alleged violation of this Law or/and the directives issued pursuant to this Law or/and the Regulation (EC) No 1287/2006 or/and any other legislation regulating the capital market, that possibly endangers the CIF’s client interests or the investor interests or generally the regular operation of the capital market. In this case, the decision to suspend the CIF authorisation may be taken by the President or/and the Vice-President of the Commission, who shall inform the Commission at its next meeting.

Source: CySec – Decision 03-9-2016 regarding continuance of suspension of CIF licence of Trademarker (Cyprus) Ltd

 

One Response to CySec informs that the CIF license of a Cyprus Investment Firm continuous to be suspended

  1. Sharon Cawston

    I have had a pension with this company for many years. The people who dealt with me and my money have disappeared.

    This company and its people should be ashamed.

    S. Cawston

     

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