CySec announces the suspension of the authorisation of CIF ‘1 T.C.R CORP. LTD’ 

Cyprus Securities and exchange commission (cysec)

The Cyprus Securities and Exchange Commission (CySec), the Cypriot financial regulatory authority, has announced that:

The authorisation of the Cyprus Investment Firm ‘1 T.C.R CORP. LTD’, number 237/14, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law (‘theLaw’), due to suspicions of alleged violations of:

Section 28(1) of the Law, ‘Continuous CIF obligations’, due to the Company’s possible non compliance with the condition if its authorization provided for in section 12 of the Law (persons who effectively direct the business of a CIF).

The above decision was reached taking into serious consideration that the above alleged violations may possibly endanger the interests of the clients of the company and the operation of the capital market.

Within one (1) month, the Company has to take actions in order to comply with the aforementioned provisions.

While the suspension of the authorisation is in force, the Company:

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

Source: CySec – Decision-07-16-2015-regarding-the-suspension-of-CIF-licence-of-1-T-C-R-CORP-LTD

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