The Cyprus Securities and Exchange Commission (CySEC) today announced the withdrawal of the Cyprus investment firm (CF) authorization of VPR Safe Financial Group Ltd.
The withdrawal is in line with section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of the Directive DI87-05. The regulator notes that the withdrawal is due to the company’s decision to expressly renounce its license.
VPR Safe Financial Group operates the Alvexo brand.
In November 2024, CySEC announced a €50,000 settlement with VPR Safe Financial Group. The settlement concerned possible violations of the Investment Services and Activities and Regulated Markets Law of 2017 (‘the Law’) and the Regulation (EU) Νο. 600/2014.
