CySec: Withdraw of CIF authorisation
The Cyprus Securities and Exchange Commission (CySec) the Cypriot financial regulatory authority, has issued an announcement informing that:
On its meeting of 2 February 2015, has decided, pursuant, of section 25(1)(c) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (‘the Law’), to wholly withdraw the Cyprus Investment Firm authorization with number CIF 137/11 of «UFS Capital Ltd» (‘the Company’) (www.ufs-federation.com.cy), due to the Company’s non compliance with:
1. paragraphs 39(2) and 39(5), Chapter C of the Directive DI144-2007-05 of 2012
(Submission of information), and
2. paragraphs 18(1)(a) και 18(3) of the Directive DI144-2007-06 of 2012 (Frequency of
disclosure and date of reporting of large exposures).
It is noted that the Company should cease to provide investment and ancillary services and settle, within a period of three (3) months, its obligations arising from the services that is no longer allowed to provide or perform.
Source: CySec
