The Cyprus Capital Market Commission (CCM) announces that the suspension of the operating license of the Cyprus Investment Company FTX (EU) Ltd is extended until September 30, 2024.
This will allow the company to take the necessary actions to comply with the relevant provisions of the Investment Services and Activities and Regulated Markets Law of 2017.
While the suspension of authorization is in effect, as provided for in Article 9 of DI87-05, the company is not allowed to:
- Providing/conducting investment services/activities.
- Conduct any business transaction with any person and accept any new customer.
- Advertise as an investment service provider.
The company may, however, take the following actions, without such actions being considered a violation of section 7(a) of DI87-05:
- It completes all its own transactions and the transactions of its customers that are before it, according to the instructions of the customer.
- It returns all funds and financial instruments attributed to its customers.
The suspension of FTX’s CIF license was initially announced on November 11, 2022, as FTX and certain of its subsidiaries filed for Chapter 11 bankruptcy in the United States.