CySec suspended partially the Cyprus Investment Firm Indication Investments Ltd
The Cyprus Securities and Exchange Commission (‘CySEC’) announces that the authorisation of the Cyprus Investment Firm Indication Investments Ltd (‘the Company’), number 164/12, is suspended partially, pursuant to section 10(1) of Directive DI87-05 for The Withdrawal and Suspension of Authorisation (‘DI87-05’), as there are suspicions of alleged violations of:
- Article 42 of Regulation (EU) no. 600/2014, as the Company does not appear to comply with paragraphs 4(1)(d) and 4(e) of Directive DI87-09 for the restriction on the marketing, distribution, and sale of CFDs to retail clients.
- Article 22(1) of the Law, as the Company does not appear to comply at all times with the condition for authorisation provided in article 17(2) of the Law, regarding the organisational requirements.
- Article 25(1) of the Law, as the Company does not appear to act honestly, fairly and professionally when providing investment services to clients, in accordance with the best interests of the clients.
- Article 25(3)(a) of the Law, as the Company does not appear to provide information, including marketing communications, to its clients or potential clients that is fair, clear and not misleading.
The Company must take, until the 17th of September 2021, the necessary actions to comply with the aforementioned provisions.
