CySec: ACFX Forex Broker’s license continues to be suspended 

CySEC

Following previous announcement dated 7 April 2016, the Cyprus Securities and Exchange Commission, following a decision at the meeting dated 9 May 2016, announces that the authorisation of the Cyprus Investment Firm ‘Atlas Capital Financial Services Ltd’ (‘the Company’), with number 085/07, continues to be suspended, pursuant to section 26(4)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (‘the Law’).

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

1. Cannot enter into a business relationship with any person and cannot take any new clients.

2. Cannot receive, transmit or execute any orders from clients for buying any financial instruments.

3. Cannot provide/perform any investment services in Cyprus or outside Cyprus (in member states and third countries).

4. Cannot advertise itself as investment services provider and make advertising campaigns and announcements.

5. Must upload on all of its websites that its CIF license has been suspended.

6. Must, if existing clients so wish, without being considered in violation of section 26(5) of the Law:

6.1. Close all open positions in relation to clients’ contracts, or of its own, on their maturity date or on an earlier date if the client so wishes.

6.2. Return to existing clients all of their funds and profits earned.

Source: CySec – Decision 05-12-2016 Atlas Capital Financial Services Ltd

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