The Cyprus Securities and Exchange Commission (“CySEC”) has notified the Malta Financial Services Authority that, in terms of its decision of the 24th November 2016 and with effect from the said date, it has suspended the authorisation of the Cyprus Investment Firm (“CIF”) PFX Financial Professionals Ltd (“the Company”) and accordingly, the Company is currently not authorised by the said Commission to carry out investment and ancillary services and activities as an investment firm. The Company is therefore not authorised to passport its services in Malta under Article 31 of the Markets in Financial Instruments Directive (Directive 2004/39/EC) for the duration of the suspension of the authorisation.

In this respect, CySEC also decided that while the suspension of the authorisation is in force, the Company:

(i) cannot enter into a business relationship with any person and cannot take on any new clients;

(ii) cannot receive, transmit or execute any orders from clients, whether existing or not, for buying financial instruments;

(iii) cannot provide any investment services in Cyprus or outside Cyprus (in Member States and third countries);

(iv) cannot advertise itself as an investment services provider and have relating advertisements;

(v) should mention on all of its websites that its CIF licence has been suspended;

(vi) must, in relation to its existing clients, without being considered in violation of section 26(5) of the Cypriot Investment Services and Activities and Regulated Markets Law of 2007:

• inform them that its CIF licence has been suspended;
• invite them, within the set deadline for compliance that is the 24th December 2016, to close all open positions in relation to their contracts;
• return to them their funds and profits earned.

In view of the abovementioned suspension of authorisation by CySEC, the Malta Financial Services Authority strongly advises against responding to any offer of financial services from PFX Financial Professionals Ltd.

MFSA Ref: 06-2017