The Cyprus Securities and Exchange Commission (CySEC) has officially revoked the Cyprus investment firm (CIF) license previously held by Abris-Cee Holdings Ltd. This decision was made during a meeting that took place on February 10, 2025. The withdrawal of the license adheres to the stipulations outlined in section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law established in 2017, as well as section 4(7) of the related directive DI87-05.
The action taken by CySEC reflects a deliberate choice by the company to renounce its CIF license. In the wake of this decision, a notice has been posted on the Abris-Cee website, communicating the termination of its operations as an investment firm.
Such regulatory measures serve as crucial mechanisms for maintaining the integrity of financial markets. The revocation of a CIF license can arise from various issues, including non-compliance with regulatory requirements or the voluntary renouncement by the firm itself, as seen in this situation.
In summation, the CySEC has acted in accordance with its regulatory framework by withdrawing the CIF authorization of Abris-Cee Holdings Ltd. This move underscores the importance of adhering to guideline standards within the investment sector and ensures that companies engaged in investment services operate within the legal norms established by the regulatory authority.