CySec suspends authorisation for providing Administrative Services 

CySEC

The Cyprus Securities and Exchange Commission (CySec) announces that the authorisation for providing Administrative Services of «Mutual Trust Limited» (‘the Company’), with number 44/196, is suspended, pursuant to section 15(1)(b) of the Law Regulating Companies Providing Administrative Services and Related Matters of 2012, as in force (‘the Law’), as there are suspicions of an alleged violation of section 23(1) of the Law, due to the Company’s possible non compliance, at all times, with the authorisation condition provided for in section 7(2) (persons who effectively manage the business) of the Law.

The above decision was reached as the aforementioned alleged violation may possibly endanger the Company’s clients’ interests.

Within one (1) week 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, pursuant to section 15(5) of the Law, cannot provide/perform any administrative services.

Source: CySec – 08-01-2016 suspension of ASP licence of Mutual Trust Ltd

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