RMG Holding and ED&F MAN Capital Markets Renounce CIF Licenses

The Cyprus Securities and Exchange Commission (CySEC) confirmed that it has withdrawn the Cyprus Investment Firm (CIF) licenses of RMG Holding Ltd and ED&F MAN Capital Markets CEEMA Ltd.

According to the commission, 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, it has decided to withdraw the Cyprus Investment Firm authorisation with Number 027/04 of RMG Holding Ltd and with Number 377/19 of ED&F MAN Capital Markets CEEMA Ltd , due to the companies' decision to expressly renounce the licenses.

Founded in 1995, RMG Holding Limited has been providing services on financial markets. Since 2004, RMG Holding Limited was a licensed Cyprus Investment Firm regulated by the CySEC.

"We regret to inform that after a careful review of our business we have decided to discontinue our services and to voluntary renounce our CIF authorizations,"RMG Holding states.

Last week, the commission has withdrawn the CIF License of Hoch Capital Ltd, which offers trading services in the UK under the brands iTrader and tradeATF.