CySEC extends suspension of CIF license of FTX
The Cyprus Securities and Exchange Commission (CySEC) announces that the suspension of the authorisation of the Cyprus Investment Firm FTX (EU) Ltd, number 273/15, is extended until March 31, 2023.
The suspension of FTX’s CIF license was initially announced on November 11, 2022, as FTX and a number of its subsidiaries filed for Chapter 11 bankruptcy in the United States.
Today, CySEC explained that the extension of the license suspension allows FTX (EU) to proceed with the necessary actions in order to comply with the relevant provisions of The Investment Services and Activities and Regulated Markets Law of 2017.
While the suspension of the authorisation is in force, as provided for in section 9 of DI87-05:
1. The Company is not permitted to provide/carry out investment services/activities or enter into any business transaction with any person and accept any new client. It is also prohibited from advertising itself as a provider of investment services.
2. The Company, provided this is consistent with the wishes of its existing clients, may proceed with certain actions, such as completing all its own transactions and those of its clients which are before it, in accordance with client instructions. It can also return all funds and financial instruments which are attributable to its clients.