CySEC withdraws CIF authorization of WS Financial & Investment Services
The Cyprus Securities and Exchange Commission (CySEC) today announces the withdrawal of the Cyprus Investment Firm (CIF) authorisation with Number 049/04 of WS FINANCIAL AND INVESTMENT SERVICES LTD.
The decision was made at a CySEC meeting held on March 22, 2021. It is due to to the company’s decision to expressly renounce its license.
The company’s website is still up and running. It shows the following notice:
“IMPORTANT COMPANY ANNOUNCEMENT
THE COMPANY HAS DECIDED TO TERMINATE ITS ACTIVITIES AND PROCEED WITH A VOLUNTARY RENUNCIATION OF ITS LICENSE.
The Company has already formally informed the Cyprus Securities and Exchange Commission about its above intention and has ceased to provide any investment and ancillary activities as of 29 January 2021”.
There have been a number of CySEC decisions on the withdrawal of CIF authorizations over the past couple of months. Earlier in March, the regulator withdrew the CIF license of Deloitte Investment Services Limited. And, in February 2021, CySEC withdrew the CIF authorization of Coverdeal Holdings Ltd, owner of online trading brands, such as Coverdeal FX and Globtrex. Other investment firms that have bid goodbye to their Cypriot licenses over the past several months include Alfa Capital Holdings (Cyprus) Ltd and Otkritie Capital.