CySEC Withdraws CIF License of PMT Matrix Capital

Wednesday, 19/01/2022 | 13:22 GMT by Arnab Shome
  • PMT is an alternative investment fund manager / UCITS management company.
  • The company now has been granted an AIF and UCITS authorization.
CySEC

The Cypriot financial market supervisor has withdrawn the Cyprus Investment Firm (CIF) license of PMT Matrix Capital. Though announced on Wednesday, the decision was confirmed by the Cyprus Securities and Exchange Commission (CySEC ) on December 7, 2021.

Based in Cyprus, PMT is an alternative investment fund manager / UCITS management company. It ‘specializes in providing management services to AIFs and UCITS with various investment strategies: to hedge funds, to private equity funds, to funds of funds and to other funds’.

However, the Cypriot regulator granted authorization as a manager of Alternative Investment funds (AIFs) and company management of undertakings for Collective Investment in Transferable Securities (UCITS) to the company.

Gateway to European Financial Market

Cyprus is seen as one of the favorite jurisdictions for financial services companies that are offering services within the European Economic Area (EEA). However, the regulator is vigilant against any lapses by the companies and imposes penalties.

In extreme cases, the regulator is even suspending licenses of financial services companies which sometimes leads to total withdrawal of authorization. Last month, the regulator withdrew the CIF license of the troubled AFX Capital Markets Ltd and even imposed heavy monetary penalties on its directors for compliance lapses.

Other companies that faced a withdrawal of their CIF licenses in 2021 include London Capital Group (Cyprus), Forex4group operator Stocks Forex AF, 24Option operator Rodeler and Globia Wealth.

Furthermore, the regulator temporarily suspended the authorization of several other companies for compliance violations. One such platform was Depaho, but the regulatory decision was recalled last November.

Meanwhile, the Cypriot regulator is allowing United Kingdom-based companies, which are seeking licenses within the EU after Brexit, to operate in the country with temporary permissions.

The Cypriot financial market supervisor has withdrawn the Cyprus Investment Firm (CIF) license of PMT Matrix Capital. Though announced on Wednesday, the decision was confirmed by the Cyprus Securities and Exchange Commission (CySEC ) on December 7, 2021.

Based in Cyprus, PMT is an alternative investment fund manager / UCITS management company. It ‘specializes in providing management services to AIFs and UCITS with various investment strategies: to hedge funds, to private equity funds, to funds of funds and to other funds’.

However, the Cypriot regulator granted authorization as a manager of Alternative Investment funds (AIFs) and company management of undertakings for Collective Investment in Transferable Securities (UCITS) to the company.

Gateway to European Financial Market

Cyprus is seen as one of the favorite jurisdictions for financial services companies that are offering services within the European Economic Area (EEA). However, the regulator is vigilant against any lapses by the companies and imposes penalties.

In extreme cases, the regulator is even suspending licenses of financial services companies which sometimes leads to total withdrawal of authorization. Last month, the regulator withdrew the CIF license of the troubled AFX Capital Markets Ltd and even imposed heavy monetary penalties on its directors for compliance lapses.

Other companies that faced a withdrawal of their CIF licenses in 2021 include London Capital Group (Cyprus), Forex4group operator Stocks Forex AF, 24Option operator Rodeler and Globia Wealth.

Furthermore, the regulator temporarily suspended the authorization of several other companies for compliance violations. One such platform was Depaho, but the regulatory decision was recalled last November.

Meanwhile, the Cypriot regulator is allowing United Kingdom-based companies, which are seeking licenses within the EU after Brexit, to operate in the country with temporary permissions.

About the Author: Arnab Shome
Arnab Shome
  • 6529 Articles
  • 87 Followers
About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6529 Articles
  • 87 Followers

More from the Author

Retail FX

!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}