The Cyprus Securities and Exchange Commission (CYSEC) today announced the withdrawal of the Authorization of the Cyprus Investment Company (CF) of VPR Safe Financial Group Ltd.
The withdrawal is in line with section 8 (1) (a) of investment services and activities and regulated markets of the 2017 Law and Section 4 (7) of DI87-05 Directive. The regulator notes that the withdrawal is due to the company’s decision to explicitly deny its permission.
The VPR Safe Financial Group takes advantage of the Alvexo brand.
In November 2024, CYSEC announced a 50,000 -euro settlement with the VPR Safe Financial Group. The settlement concerned possible violations of investment services and activities and law on regulated markets of 2017 (“Law”) and Regulation (EU). 600/2014.