CySEC Withdraws CIF License of IFC Investments Cyprus Ltd

The Cyprus Securities and Exchange Commission (CySEC) announced that it has withdrawn the Cyprus Investment Firm (CIF) licenses with Number 327/16 of IFC Investments Cyprus Ltd.

The decision to withdraw the license of the broker was taken by the Cypriot regulator on 12 September 2022 in a meeting. The regulatory further added that it was the company's decision to renounce its CIF license.

Cyprus is one of the most popular jurisdictions for financial services firms to establish their bases. The low regulatory entry barrier of the island makes it a perfect jurisdiction for European companies to make it their base.

However, CySEC has become extremely vigilant and is actively flagging and taking action against any violations. Earlier, the commission imposed administrative fines on five financial firms for violations of the Transparency Requirements.