SAXO BANK penalized by Cyprus Securities and Exchange Commission

The Cyprus Securities and Exchange Commission announces that, on 6 th June 2015, the CIF Saxo Capital Markets CY Ltd, which provided investment services via the domain www.saxomt4.com, renounced its authorization pursuant to section 24(1)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (the ‘Law’). Therefore, the authorization with Νumber 163/12 lapsed as from the abovementioned date. It is noted that, in accordance with section 25(4) of the Law, Saxo Capital Markets CY Ltd remains under the supervision of the Cyprus Securities and Exchange Commission until it settles its obligations arising from the investment services or/and activities that lapsed.