CySec announced that the license of a Cyprus Investment Firm continues to be suspended
Following previous announcement dated 17 June 2016, the Cyprus Securities and Exchange Commission (CySec) has issued an announcement to inform that the authorisation of the Cyprus Investment Firm AirFinance Pro Ltd (‘the Company’), with number 206/13, will continue as suspended until 16 September 2016, pursuant to section 26(3) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (‘the Law’).
According to CySec’s announcement, within the aforementioned time period, the Company has to take actions in order to comply with the provisions of the legislation.
While the suspension of the authorisation is in force, the Company:
1. Cannot provide any services, pursuant to section 26(5) of the Law.
2. Must, if existing clients so wish, without being considered in violation of section 26(5) of the Law,:
2.1. Close all open positions in relation to clients’ contracts on their maturity date, or on an earlier date if the client so wishes.
2.2. Return to existing clients their funds and profits earned.
Source: CySec – 07-29-2016 continuance of-suspension CIF licence AirFnance Pro Ltd
