The Cyprus Securities and Exchange Commission (“CySEC”) has notified the Malta Financial Services Authority that, with effect from 19 May 2021, it has wholly withdrawn the authorisation of Felicitas Management Investment Services Ltd (EU) (“the Company”) due to the Company’s non-compliance with article 22(1) of the Investment Services and Activities and Regulated Markets Law of 2017. The Company failed to comply with the conditions of Chapter I of the aforementioned Cypriot legislation for the granting of an operating license, and specifically sections 9(16) (board of directors) and 10(1)(a) (governance regulations) thereof.
Following CySEC’s decision to wholly withdraw the Company’s authorisation, and in accordance with paragraphs 4 and 5 of CySEC Directive DI87-05 for the withdrawal and suspension of authorisation, the Company should:
- Ensure it does not provide investment and ancillary services; and
- Immediately and without delay, ensure that all references on its websites and anywhere else, relating to the provision/carrying out of investment services/activities, as well as references to its licensing and regulation by CySEC, are deleted.
Further detail in relation to the above can be obtained from the decision taken by CySEC dated 19 May 2021 which has been published on CySEC’s website.
