CySEC Withdraws PwC Investment Services' CIF Authorization

The Cyprus Securities and Exchange Commission (CySEC) yesterday announced the withdrawal of the Cyprus investment firm (CIF) authorization of PricewaterhouseCoopers Investment Services (Cyprus) Ltd. This decision, made during a regulatory meeting on June 17, 2024, follows the company's decision to renounce its CIF license.

The regulatory move is in accordance with section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of Directive DI87-05. The firm stated on its website that the decision was made after a thorough assessment of the current business landscape and a comprehensive evaluation of the company's business operations, as part of a broader strategic realignment by PwC Cyprus.

PricewaterhouseCoopers Investment Services assured clients that they would continue to receive quality services until the final day of operation. The company provided contact information for queries and complaints and indicated that each client would be contacted separately with specific timelines for deliverables and the final day of service. This personalized approach aims to provide clarity and support throughout the transition period.

The firm's announcement expressed appreciation for clients' support and trust over the years and thanked them for their patience and understanding during this period of change.