The Cyprus Securities and Exchange Commission (CySEC) has announced the withdrawal of Inveza Capital Ltd's Cyprus Investment Company (CIF) mandate, No. 209/13. The regulatory decision was made in accordance with Article 8(1)(a) of the Investment Services and Activities and Regulated Markets Act 2017 and Article 4(7) of Directive DI87-05.

The company was previously known as NFX Capital Cy Ltd and Vinst Capital LIMITED.

The statement on the company's website reads: "Please note that effective September 30, 2022, Inveza Capital Ltd (formerly NFX Capital CY Ltd) will cease all activities and as such, existing customers who trade with Inveza or have outstanding balances will be asked to close their accounts and withdraw the remaining balances."

In addition, MAGNUM FX's CIF license was also revoked by CySEC due to the company's decision to explicitly relinquish its license.

In August 2022, CySEC announced a fine of €150,000 against Magnum FX (Cyprus) Ltd. The company agreed to settle with CySEC for possible violations of the Investment Services and Activities and Regulated Markets Act 2017 and the Cyprus Securities and Exchange Commission Directive DI144-2014-14 on prudential regulation of investment companies.

In early February, CySEC also announced the cancellation of licences for TradoCenter and Toro Invest, two trading brands operated by FF Simple and Smart Trades Investment Services Ltd.