CySec: renouncement of license
The Cyprus Securities and Exchange Commission announces that, on 18 February 2014, the CIF «Magline Investments Ltd» (‘the Company’), which provided investment services via the domain www.trading247.com, 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 192/13 lapsed as from the abovementioned date.
In regard to the domain www.trading247.com, the Company expressed the intention to license its use to another CIF.
It is noted that, in accordance with section 25(4) of the Law, the Company remains under the supervision of the Cyprus Securities and Exchange Commission until the Company settles its obligations arising from the investment services or/and activities that lapsed.
Source: CySec
