CySEC further extends FTX license suspension
CySEC Announces Extension of Suspension of Authorisation for Cypriot Investment Firm FTX (EU) Ltd to 30 September 2024.
The Cyprus Securities and Exchange Commission (CySEC) announced that the authorization suspension of FTX (EU) Ltd, a Cyprus investment firm, has been extended until September 30, 2024. The company will be allowed to take necessary actions to comply with the relevant provisions of the 2017 Investment Services and Activities and Regulated Markets Law.
In accordance with Article 9 of Directive DI87-05, during the period of suspended authorization, the company shall not:
- Provide/conduct investment services/activities
- Engage in any commercial transaction with any person and accept any new clients
- Advertise itself as an investment service provider
However, the company may take the following actions without being considered in violation of Article 7(a) of Directive DI87-05:
- Complete all transactions between itself and clients according to client instructions
- Return all funds and financial instruments to clients
The suspension of FTX's CIF license was initially announced on November 11, 2022, when FTX and its multiple subsidiaries filed for bankruptcy protection in the United States.
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