CySEC Withdraws CIF License of Deloitte Investment Services

The Cyprus Securities and Exchange Commission (CySEC), the Cyprus watchdog for financial markets, announced that it has decided to withdraw the Cyprus Investment Firm (CIF) authorisation with Number 068/06 of Deloitte Investment Services Limited, due to the company's decision to expressly renounce its CIF license.

The regulator detailed 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. 

As a CIF, Deloitte Investment Services is authorized and regulated in the conduct of its investment business by the CySEC. The Commission issued Deloitte Investment Services the necessary license for the provision of investment advice in June 2006.

As Fazzaco reported on February 27, 2021, CySEC withdrew authorization of Coverdeal FX operator​. The withdrawal was also due to the company's decision to expressly renounce its CIF authorization.

During the past several months, CySEC has withdrew the CIF license of several investment firms including D Capital Investments Fund Ltd and Russian FX broker Otkritie Capital.