The regulator revoked Arumpro Capital Ltd's CIF authorization on November 11, 2024.
Greenpost Trading Europe Ltd's CIF authorization was withdrawn by CySEC on November 4, 2024.
CySEC
The Cyprus Securities and Exchange Commission (CySEC) has
announced the withdrawal of two Cyprus Investment Firm (CIF) authorizations.
CySEC Withdraws CIFs for Two Firms
On 11th November 2024, CySEC revoked the CIF authorization
of Arumpro Capital Ltd. This decision follows the company’s explicit
renouncement of its authorization under the Investment Services and Activities
and Regulated Markets Law of 2017.
Source: CySEC
In a statement on their website, Arumpro Capital Ltd said,
“We regret to inform you that Arumpro Capital Ltd has made the difficult
decision to renounce its license and cease offering investment services and
activities. We value our customers and investors and appreciate the trust you
have placed in us over the years.”
Source: Arumcapita.eu
The company further added, “Please note that, as
communicated, all positions have been closed and access to trading accounts has
been terminated.”
Finance Magnates has contacted Arumpro Capital for a
comment. At the time of writing, the company has not yet responded.
Source: CySEC
On November 4, 2024, CySEC also withdrew the CIF
authorization of Greenpost Trading Europe Ltd, following the company’s similar
decision to renounce its authorization under the same legal provisions.
In its October 2023 guidance, the UKNF prohibits clients of
investment firms or unregulated intermediaries from engaging in personalized
client acquisition activities under such programs.
CySEC highlighted in a web
release that the UKNF's position restricts individuals or entities outside the
firms from undertaking actions to attract clients or potential clients for
investment services.
Additionally, the UKNF guidance limits the dissemination of
information regarding the scope of services offered by investment firms.
According to the position, only the firms themselves or their tied agents are
authorized to perform such activities.
This reminder highlights the importance of compliance with
regulatory expectations in cross-border activities involving affiliate or
referral-based client acquisition.
The Cyprus Securities and Exchange Commission (CySEC) has
announced the withdrawal of two Cyprus Investment Firm (CIF) authorizations.
CySEC Withdraws CIFs for Two Firms
On 11th November 2024, CySEC revoked the CIF authorization
of Arumpro Capital Ltd. This decision follows the company’s explicit
renouncement of its authorization under the Investment Services and Activities
and Regulated Markets Law of 2017.
Source: CySEC
In a statement on their website, Arumpro Capital Ltd said,
“We regret to inform you that Arumpro Capital Ltd has made the difficult
decision to renounce its license and cease offering investment services and
activities. We value our customers and investors and appreciate the trust you
have placed in us over the years.”
Source: Arumcapita.eu
The company further added, “Please note that, as
communicated, all positions have been closed and access to trading accounts has
been terminated.”
Finance Magnates has contacted Arumpro Capital for a
comment. At the time of writing, the company has not yet responded.
Source: CySEC
On November 4, 2024, CySEC also withdrew the CIF
authorization of Greenpost Trading Europe Ltd, following the company’s similar
decision to renounce its authorization under the same legal provisions.
In its October 2023 guidance, the UKNF prohibits clients of
investment firms or unregulated intermediaries from engaging in personalized
client acquisition activities under such programs.
CySEC highlighted in a web
release that the UKNF's position restricts individuals or entities outside the
firms from undertaking actions to attract clients or potential clients for
investment services.
Additionally, the UKNF guidance limits the dissemination of
information regarding the scope of services offered by investment firms.
According to the position, only the firms themselves or their tied agents are
authorized to perform such activities.
This reminder highlights the importance of compliance with
regulatory expectations in cross-border activities involving affiliate or
referral-based client acquisition.
Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023.
At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London.
Education:
Honours degree Information Technology, Anfell College, London
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