CySEC withdraws CIF license of Deloitte Investment Services
The Cyprus Securities and Exchange Commission (CySEC) today announces that it has decided to withdraw the Cyprus Investment Firm (CIF) authorisation with Number 068/06 of Deloitte Investment Services Limited.
The regulator explains that the withdrawal is made 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. CySEC adds the withdrawal reflects the company’s decision to expressly renounce its CIF license.
The CIF authorization of Deloitte Investment Services was issued back in June 2006. It allowed the company to offer investment advice.
The decision regarding the license of Deloitte Investment Services is announced less than a month after CySEC withdrew the Cyprus Investment Firm (CIF) authorization of Coverdeal Holdings Ltd, operator of brands such as Coverdeal FX. The withdrawal was also due to the company’s decision to expressly renounce its CIF authorization.
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.