CySEC Partially Suspends CIF License of VPR Safe Financial Group Limited

The Cyprus Securities and Exchange Commission (CySEC) announced that the authorisation of the Cyprus Investment Firm VPR Safe Financial Group Limited, number 236/14, is partially suspended.

Partial suspension of the company's authorisation concerns a Prohibition to provide/exercise investment services/activities in the territory of France, including the provision of services through the Tied Agent, which entails the following:

• Prohibition to accept any new clients from the territory of France and entering into a business relationship with them.

• Prohibition to advertise as a provider of investment services in the territory of France. To ensure this, the Company is prohibited from marketing/advertising its services to current or potential clients in the territory of France and from communicating, in any way, with current or potential clients in the territory of France for this purpose either directly or via third parties with whom the Company cooperates for customer support, including the Tied Agent.

• ​Prohibition in receiving new deposits from current clients from the territory of France, unless this concerns the covering of the necessary initial margin of an existing open position following clients' own explicit request.

The above decision was reached on the basis of findings communicated to the company by the competent supervisory authority of France, Autorité des marchés financiers (AMF). Within two months, the company must take the necessary actions in order to comply with the aforementioned provisions.