The Cyprus Securities and Exchange Commission (CySEC) has issued a communique, which informs about the full suspension of the licenses of the parent company of SkyFX and Capital Option – Trademarker Ltd. This decision has been taken in April 25, at a board meeting of the supervisor, following the regulator’s decision from February 2016.
Both companies, SkyFX and Capital Option have been under control of the suspended Cyprus Investment Firm (CIF) Trademarker Ltd., now without license to continue in its activity. According to the officiak statement from the regulator, the Executive Director of the company, Mr Aviv Tal Mor, is not a suitable person for operating a CIF. As the supervisor points out, Mr Aviv Tal Mor is the sole shareholder of the company, and also not suitable to ensure the sound and prudent management of the company, following a decision of an Israeli court, which had appointed a liquidator for the companies owned by Mr Aviv Tal Mor due to his possible involvement in illegal acts relating to the financial sector.
TThis decision of CySEC si another one, which attracts attention as the supervisor kept this announcement for a month away from public without any explanation. In a similar fashion, in December 2015, the CySEC has made couple of sanctions announcements in one single announcement.
As this announcement went public, the parent company with its brands should stop providing investment and ancillary services and settle. SkyFX and Capital Option have three months to settle their obligations with clients and solve any arising complaints.
The CySEC has highlighted that it weighs the money claimed by the complainants as clients’ money and consequently, the Company should ensure that this is kept in a separate bank account until all complains are investigated.
As often in these cases, the website on Capital Option is currently unaccessible. SkyFX Website contains only a notice that the license of the company has been withdrawn in February 2016 for 15 days. The CySEC has stated in its announcement that the company should place a public announcement on the websites about how clients can withdraw their money and remove any content that claims that the company is regulated by the Cypriot watchdog.
For any questions or recommendations, feel free to write us on hello@goforex.eu
