The Cyprus Securities and Exchange Commission (CySEC) today announces that, at its meeting held on October 5, 2020, it decided to withdraw the Cyprus Investment Firm (CIF) authorisation with Number 025/04 of Alfa Capital Holdings (Cyprus) Ltd.

The license is withdrawn pursuant to section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of Directive DI87-05. The regulator explains that its decision is due to the company’s decision to expressly renounce the authorization.

According to CySEC’s register of investment firms, Alfa Capital Holdings (Cyprus) Ltd operates the website http://www.alfacapital.com.cy. The website, offering the services of Alfa Capital Markets, is currently active, with the latest news there being from the end of September. The products being offered include Forex, equities and fixed income.

This marks yet another move by a Cyprus investment firm to abandon the Cypriot market. In July 2020, for instance, CySEC reported that two retail FX and CFD trading firms, Hoch Capital Ltd and Rodeler Ltd, have voluntarily renounced their CySEC licenses. Hoch Capital Ltd operates the iTrader and TradeATF brands, while Rodeler Ltd operates 24option, which began (as its name implies) as a Binary Options brokerage, but later transitioned to become a “standard” FX and CFDs broker.