CySec announced withdraw of the suspension of a Cyprus Investment Firm’s authorisation 

Cyprus Securities and exchange commission (cysec)

The Cyprus Securities and Exchange Commission (CySec) has issued an announcement to inform the public that at its meeting dated 27 November 2017, decided to withdraw the suspension of the authorisation of the Cyprus Investment Firm Concorde Investments (Cyprus) Ltd (‘the Company’), number 189/13, pursuant tom section 26(4)(a) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (‘the Law’).

CIF’s authorisation was suspended with a CySec’s decision published on 11 October 2017 , pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law of 2007 as there were suspicions of an alleged violation of section 28(1) of the Law due to the Company’s possible non compliance, at all times, with the authorisation and operating condition of section 12 (Persons who effectively direct the business of a CIF) and of section 18A (Governance arrangements) of the Law.

According the announcement issued on 30 November 2017, CySec has been satisfied that the Company has complied with section 28(1) of the Law, with regard to the authorisation and operating condition of section 12 of the Law (Persons who effectively direct the business of a CIF) and of section 18A of the Law (Governance Arrangements).

Source: CySec – CySec’s decision to withdraw suspension

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