CySEC suspends CIF Licence of Maxiflex Ltd

CySEC suspends CIF Licence of Maxiflex Ltd

The Cyprus Securities and Exchange Commission announces that the authorisation of the Cyprus Investment Firm Maxiflex Ltd (‘the Company’), number 258/14, is suspended in whole, pursuant to section 10(1) of Directive DI87-05 for The Withdrawal and Suspension of Authorisation (‘DI87-05’), as there are suspicions of alleged violations of:

• Section 5(5) of The Investment Services and Activities and Regulated Markets Law of 2017 (‘the Law’) as the Company appears to conduct business and/or to be engaged in conducting business and/or to facilitate the conducting of business not stated in its authorisation.
• Article 22(1) of the Law as the Company does not appear to comply at all times with the authorisation conditions in sections 9(2) – suitability of members of the management body, 11(1)(b) – suitability of shareholder, 17(4) and (9) – organisational requirements, of the Law.