CySEC withdraws CIF authorization of KIT Finance Brokers

Maria Nikolova

The Cypriot regulator explains that the withdrawal reflects the company’s decision to renounce its CIF license.

The Cyprus Securities and Exchange Commission (CySEC) today announces that it has decided to withdraw the Cyprus Investment Firm (CIF) authorization of KIT Finance Brokers Ltd.

According to the regulator, the withdrawal is in line with 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.

At the moment of publication of this article, the websites display the following message:

According to the “about us” section on KIT Finance Brokers’s website, the company provides access to equity, fixed income and derivatives on MOEX (Russia) and the world major exchanges (AMEX, NASDAQ, NYSE, CME/CBOT, Eurex, Euronext, XETRA etc.).

The entity offered its clients to place stock market orders by phone (telephone calls may be recorded for security and quality purposes); and on-line, using QUIK trading system.

The company carried on its business activity for the provision of a raft of investment services, including:

  • Reception and transmission of orders in relation to one or more financial instruments.
  • Execution of orders on behalf of clients.
  • Dealing on own account.

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