CySEC Revokes AIFM License of Corinth Fund Management Ltd

The Cyprus Securities and Exchange Commission ('CySEC') announced that it decided to withdraw the Alternative Investment Fund Manager authorisation of the company Corinth Fund Management Ltd ('the Company'), with Number AIFM48/56/2013, pursuant to article 12(2)(a) of the Alternative Investment Fund Managers Law of 2013, as in force ('the Law').

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CySEC reached to the above decision, since the Company no longer meets the conditions under which the authorisation was granted, following the finding of a violation of Article 6(2)(a) of the Law, and specifically:

(a) of Article 8(2)(b) of the Law, regarding the obligation to have sufficient initial capital and sufficient own funds, which are €125,000, and

(b) of Article 8(2)(c) of the Law, regarding the obligation the conduct of the business being decided by at least two persons.