The Cyprus Securities and Exchange Commission (CySEC) announces that it has decided to withdraw the Cyprus Investment Firm (CIF) authorisation of Felicitas Management Investment Services Ltd with number 157/11.

The regulatory decision is in accordance with sections 76(1)(c) and 8(1)(c) of the Investment Services and Activities and Regula ted Markets Law of 2017 (‘the Law’). It reflects the company’s non-compliance with section 22(1) of the Law, as it failed to comply with the conditions of Chapter I for the granting of an operating license and specifically in sections 9(16) (board of directors) and 10(1)(a) (governance regulations) of the Law.

The announcement about the withdrawal of the authorization of Felicitas was made one day after CySEC announced its decision to withdraw the Cyprus Investment Firm (CIF) authorisation of Rodeler Ltd, due to the company’s decision to expressly renounce it.

In August 2020, CySEC said it had reached a settlement with Rodeler, which operated the 24option.com and 24fx.com retail brokerage brand websites as CySEC licensed entities. The settlement saw Rodeler pay a fine of €280,000 to the Cyprus Treasury, in regards to violations of its CySEC CIF license.