CySEC suspends Fenix Capital Markets Trading Ltd

Reason:
Non Compliant
Content of Penalty:

The Cyprus Securities and Exchange Commission announces that the authorisation of the Cyprus Investment Firm Fenix Capital Markets Trading Ltd (‘the Company’), number 308/16, is suspended in whole, pursuant to section 71(6)(c) of Τhe Investment Services and Activities and Regulated Markets Law of 2017 (‘ the Law’) and section 10(1) of Directive DI87-05 for The Withdrawal and Suspension of Authorisation (‘DI87-05’), as there are suspicions of an alleged violation of section 22(1) of the Law due to the Company’s possible non-compliance at all times with the authorisation condition in section 9(16) (management body) and in section 10 (governance arrangements) of the Law. 

 

The above decision was reached as the aforementioned alleged violation causes concern and risk relating to the protection of the Company’s clients or of the investors and constitutes a threat to the orderly operation and integrity of the market.

 

 

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Date: 14/11/2018
Link: https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=94619ccd-709a-424f-a75c-2bb5edb8884b