The Cyprus Securities and Exchange Commission (CySEC) announces that the suspension of the authorisation of the Cyprus Investment Firm FTX (EU) Ltd is extended until September 30, 2024.
This way, the company will be allowed to proceed with the necessary actions in order to comply with the relevant provisions of The Investment Services and Activities and Regulated Markets Law of 2017.
While the suspension of the authorisation is in force, as provided for in section 9 of DI87-05, the company is not permitted to:
- Provide/carry out investment services/activities.
- Enter into any business transaction with any person and accept any new client.
- Advertise itself as a provider of investment services.
The company, however, may proceed with the below actions, without such actions being considered as breach of section 7(a) of DI87-05:
- Complete all its own transactions and those of its clients which are before it, in accordance with client instructions.
- Return all funds and financial instruments which are attributable to its clients.
The suspension of FTX’s CIF license was initially announced on November 11, 2022, as FTX and a number of its subsidiaries filed for Chapter 11 bankruptcy in the United States.
