Cypriot regulator withdraws CIF authorization of Postscriptum Capital

Maria Nikolova

CySEC has decided to withdraw the license of Postscriptum Capital Ltd, due to the company’s decision to renounce it.

The Cyprus Securities and Exchange Commission (CySEC) today announces that, at its meeting held on September 9, 2019, it has decided to withdraw the Cyprus Investment Firm (CIF) authorisation of Postscriptum Capital Ltd.

The regulatory move reflects the company’s decision to expressly renounce the authorization.

An announcement on Postscriptum Capital’s website says:

“Dear Valued Client,

We would like to inform you that Postscriptum Capital Ltd (hereafter the “Company” or “Postscriptum”) with license number 284/15 has decided to proceed with the voluntary withdrawal of its Cypriot Investment Firm authorization.

In this respect, please note that the domains, http://ps.capital , , and http://pscapital.eu ,operated by the Company for informative purposes only, will cease their operations subject to the Company’s decision to proceed with the withdrawal of its CIF authorization.

All the Company’s clients will be notified independently via email for further actions in relation to their account(s).

The aforesaid termination does not affect in any way your right to terminate your agreement either now or at a later stage by requesting the closure of your trading account and withdrawal of your available balance. Kindly note that trades/withdrawal requests and closure of trading accounts shall be made, in writing, the latest by 31.10.2018

Due to the immediate actions that need to be undertaken, the Company will ensure that closing of accounts, as well as withdrawal requests will be dealt with immediately.

It shall be clarified that the Company is fully aware of the legal requirements and obligations in relation to the renouncement of its license and will proceed with all the necessary actions that are required to be taken.

Please contact us directly at the following details in case you need any further clarifications.

Email: [email protected]

Phone: +357 25 023934

We remain at your disposal.

Kind regards

Irakli Chaduneli / CEO

Postscriptum Capital Limited”

The Cyprus Investment Firm authorization of Postscriptum Capital Limited (number 284/15) dated 23.11.2015 allowed it to provide investment services, such as reception and transmission of orders in relation to one or more financial instruments, execution of orders on behalf of clients, portfolio management, investment advice and also ancillary services, such as safekeeping and administration of financial instruments, including custodianship and related services, granting credits or loans to one or more financial instruments, where the firm granting the credit or loan is involved in the transaction, foreign exchange services where these are connected to the provision of investment services, investment research and financial analysis or other forms and investment services and activities as well as ancillary services where these are connected to the provision of investment or ancillary services.

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