Cyprus Regulator decided to withdraw the license of a Cyprus Investment Company
The Cyprus Securities and Exchange Commission (CySEC) has issued an announcement to inform that, on its meeting of 25th June 2018, has decided to wholly withdraw the Cyprus Investment Firm authorisation with number CIF 216/13 of the company «B.O. Tradefinancials Ltd».
In accordance the announcement, CySEC’s decision is pursuant to section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 (ΝI87(I)/2017), as in force (‘the Law’).
Section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 (ΝI87(I)/2017) refers to the fact that the CySEC may withdraw the CIF authorisation where a CIF does not make use of the authorisation within 12 months, expressly renounces the authorisation or has provided no investment services or has performed no investment activity for the preceding six months.
Source: CySEC – Decision 07-03-2018