The Cyprus regulator CySEC has announced that it has decided to withdraw the CIF license of a company named AMFF Ltd.
The Cyprus Securities and Exchange Commission (CySEC) announced the withdrawal of the CIF license (Cyprus Investment Firm) number 241/14 owned by AMFF. The regulator emphasized that the decision to withdraw company’s license was made “due to the Company’s decision to expressly renounce it”.
AMFF previously operated via 3 domains: faceoption.com, moneotrade.com, and chartoption.com. All of them are currently disabled. Moreover, the Chartoption brand website still displays the following announcement: “Dear Customer, please note that the Company will cease providing services by the 2nd of July 2018 (29th June being the last day). In case you have any queries regarding your account, please contact us by sending an email to email@example.com.”
The binary options provider received a CySEC license in July 2014. But in July 2017, Cyprus regulator forbade AMFF’s Financial Director to engage in professional activities in the financial sector for a period of five years. This decision was made after the regulator became aware of the misleading personal information indicated in the questionnaire on obtaining the status of a Cyprus Investment Firm (CIF).