The Cyprus Securities and Exchange Commission (“CySEC”) has notified the Malta Financial Services Authority that, with effect from 06 March 2023, it has wholly withdrawn the authorisation of Maxiflex Limited (EU) (“the Company”) due to the Company’s non-compliance with article 22(1) of the Investment Services and Activities and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 Law”). The Company is in violation of article 22(1) of the Law, as to the continued observance of the licensing conditions set out in articles 11(1)(b) and 17(9) of the Law, regarding the suitability of the shareholder and the safeguard of the rights of clients and the prevention of the use of clients’ funds for its own account, respectively, and consequently does not comply anymore with the conditions for granting its authorisation.

Following CySEC’s decision to wholly withdraw the Company’s authorisation, the Company should:

1. Immediately and without any delay, ensure that all references on its websites, and elsewhere, to the provision/performance of investment services/activities, as well as to its licensing and supervision by the CySEC are deleted;
2. To investigate and resolve all customer complaints brought before it; and
3. To ensure that it does not provide investment and ancillary services.

Further detail in relation to the above can be obtained from the decision taken by CySEC dated 06 March 2023 which has been published on CySEC’s website.