The Cyprus Securities and Exchange Commission (CSE) withdrew the license of the Cyprus Investment Company (CIF) of Fintailor Investments Ltd.
The decision, which was taken by the regulator at a meeting held on April 15, 2024, was announced today. The regulatory move is in accordance with section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of Directive DI87-05.
CySEC notes that the withdrawal reflects Fintailor Investments’ decision to expressly renounce its CIF licence.
None of the approved domains through which the company operates were accessible at the time of writing.
Earlier in 2024, YKK announced a settlement agreement with Fintailor Investments Ltd.
The settlement covers potential violations of the Money Laundering and Terrorist Financing Act 2007 (the “Act”) and the Money Laundering and Terrorist Financing Directive issued by YKK (“the Directive”). The investigation for which the settlement was reached concerned the assessment of the Company’s compliance for the period 2016-2019.