CySEC Revokes CIF Authorization of Leverate

The Cyprus Securities and Exchange Commission (CySEC) announced last week the withdrawal of the Cyprus Investment Firm (CIF) authorisation with 160/11 of Leverate Financial Services Ltd.

Leverate, a software as a service provider for Forex brokers, provides both electronic trading platforms and back-office software.

The decision to revoke the CIF authorisation of the aforementioned broker was made on the Cypriot regulator's meeting of 4 December 2023, 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 explained that it made the decision because Leverate has voluntarily renounced the authorisation.

In addition, the watchdog has canceled the Alternative Investment Fund Manager authorisation of the Deltamark Fund Management Ltd.

Last week, Fazzaco reported that CySEC has withdrew the Alternative Investment Fund Managers authorisation of Inveqo Fund Management Ltd​.