CySEC has suspended the license of MPS Marketplace Securities

September 24, 2019 at 03:48 PM

Regulator CySEC

The Cyprus Securities and Exchange Commission has announced the suspension of the authorisation of the Cyprus Investment Firm MPS Marketplace Securities Ltd in whole. The company has previously been known as SpotOption Exchange Ltd and S.O. Spotoption Ltd.

According to the official notice, the above decision was reached as the aforementioned alleged violation may cause concern and risk relating to the protection of the company’s clients and constitute a threat to the orderly operation and integrity of the market.

MPS Marketplace Securities was given 15 days to take actions in order to comply with the aforementioned provisions. 

During this suspension period the company is not permitted to provide/carry out investment services/activities as well as enter into any business transaction with any person and accept any new client. It is also not allowed to advertise itself as a provider of investment services.

Also, the company, provided this is consistent with the wishes of its existing clients, may proceed with the following actions: complete all its own transactions and those of its clients which are before it, in accordance with client instructions and return all funds and financial instruments which are attributable to its clients.

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