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Cypriot regulator withdraws CIF authorization of Fidelisco Capital Markets

Maria Nikolova

The withdrawal is in line with the company’s decision to expressly renounce its CIF authorization.

The Cyprus Securities and Exchange Commission (CySEC) today announces that, at its meeting held on November 8, 2019, it has decided, pursuant to section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of Directive DI87-05 for the Withdrawal and Suspension of Authorisation, to withdraw the Cyprus Investment Firm (CIF) authorisation with Number 181/12 of Fidelisco Capital Markets Ltd. The withdrawal is due to the company’s decision to expressly renounce its CIF authorization.

According to CySEC’s website, Fidelisco operates via two approved domains: fidelisco.eu; and valorix.eu. Both websites are currently not accessible, but an archived version of fidelisco.eu displays a message about the firm stopping to offer binary options trading services. The notice says:

“Kindly be informed that as of 30th June 2018, Fidelisco Capital Markets Ltd. has stopped providing investment services with regards to Binary Options. The decision was made based on ESMA’s announcement, whereby the Binary Options have been prohibited, ultimately causing us to cease the operations of the brands the Company operated.

Fidelisco Capital Market Ltd. Operated the brands Optie24.nl and 365trading.com till 30th of June 2018”.

Several firms have decided to renounce their CIF authorizations over the past few months. At its meeting held on September 9, 2019, CySEC decided to withdraw the CIF authorisation of Postscriptum Capital Ltd. The regulatory move reflects the company’s decision to expressly renounce the authorization.

In August, CySEC announced that it had decided to withdraw the CIF authorization of KIT Finance Brokers Ltd. That decision was also due to the company’s decision to renounce its authorization. According to CySEC’s website, KIT Finance Brokers operates via two websites: www.kfb.com.cy; and www.kitfinance.com.cy.

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