The Cyprus Securities and Exchange Commission (CySEC) has announced the withdrawal of the Cyprus Investment Firm (CIF) authorisation with number 259/14 of HYCM (Europe) Ltd.
HYCM (Europe) is the European subsidiary of the multi-regulated Forex and CFD provider HYCM. In March, it was reported that the entity voluntarily surrendered its Cyprus Investment Firm (CIF) license.
CySEC’s decision to revoke the CIF authorisation of the aforementioned company was pursuant to section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of Directive DI87-05.
Last month, CySEC canceled CIF authorization of Fintailor Investments Ltd. Besides this, the regulator recently launched its Regulatory Sandbox, marking a significant milestone in the advancement of financial, regulatory, and supervisory technologies (FinTech, RegTech, and SupTech) in Cyprus.
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