CySEC Withdraws CIF License of Sharelink Securities & Financial Services Ltd

The Cyprus Securities and Exchange Commission (CySEC) announced that it has withdrawn the Cyprus Investment Firm (CIF) licenses with Number 014/03 of Sharelink Securities & Financial Services Ltd.

The decision to withdraw the license of the broker was taken by the Cypriot regulator on 18 July 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. This week, the commission has reached a settlement agreement with the Cyprus Investment Firm (CIF) Triangleview Investments Ltd. As part of the settlement, the company has paid €50,000 to CySEC for possible regulatory violations.