The Cyprus Securities and Exchange Commission (CySEC) announced yesterday that it has revoked Smart Trades Investment Services Ltd's Cyprus Investment Company (CIF) license number 080/07.

According to Article 8 (1) (a) of the 2017 Investment Services and Activities and Regulated Markets Act and Article 4 (7) of Directive DI87-05, CySEC decided to revoke the Cyprus Investment Company license of the aforementioned broker at its meeting on November 28, 2022.

The regulatory agency explained that it made this decision because Smart Trades Investment Services Ltd had voluntarily relinquished its license.

Last week, CySEC released a list of five company websites, none of which belong to any Cyprus investment company. The regulatory agency urges investors to consult their websites before conducting business with investment companies to identify entities licensed to provide investment services and/or activities.