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 6 July 2015, has decided, pursuant, of section 25(1), subparagraphs (b) and (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 243/14 of «P.M. Investment Capital Limited» (‘the Company’) due to the Company’s non compliance with:

1. section 34 of the Law, for non notification of a material change ( website addresses),

2. section 28(1) of Law, for non compliance with sections 10(2), 12(1), 12(3), 15, 16 and 18(2) of the Law (initial capital, organizational structure, head office location, organizational requirements),

3. section 79(2) of the Law, for non notification of the intention to provide investment services freely within the territory of another Member State or/and a third country,

4. section 139(2) of the Law, for withholding material information (non disclosure of Company’s activation), and

5. paragraphs 39(2) and 39(5), Part C of the Directive DI144-2007-05 and paragraphs 18(1)(b) and 18(3) of the Directive DI144-2007-06, for the non submission of capital adequacy forms

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.

Investors are urged to exercise caution in their dealing as the websites www.cedarfinance.com, www.regaloptions.com and www.brokeragecapital.com, via which the Company was activated, are no longer operated by an entity regulated by CySEC.

Source: CySec – CySec Decision-07-10-2015-withdrawal-of-CIF-authrisation-P-M-Investment-Capital-Limited

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