The Cyprus Securities and Exchange Commission (“CySEC”) has notified the Malta Financial Services Authority (“MFSA”) that, in terms of its decision of the 17th March 2017 and with effect from the said date, it has suspended the authorisation of the Cyprus Investment Firm Boursotrade Ltd (“the Company”). Consequently, until the suspension of its authorisation remains in force, the Company is not authorised by CySEC to carry out investment services and activities as an investment firm. The Company is therefore not authorised to passport its services in Malta under 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 any new clients;

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

(iii) cannot provide/ perform any investment services in Cyprus or outside Cyprus (in member states and third countries);

(iv) cannot advertise itself as investment services provider and make advertising campaign and announcements;

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

(vi) must, if existing clients so wish, without being considered in violation of section 26(5) of the Cypriot Investment Services and Activities and

• Regulated Markets Law of 2007:
  close all open positions in relation to clients’ contracts, or of its own, on their
• maturity date or on an earlier date if the client so wishes; return existing clients all of their funds and profits earned, if and when the clients so wish.

In view of the abovementioned suspension of authorisation by CySEC, the MFSA strongly advises against responding to any offer of financial services from Boursotrade Ltd.

MFSA Ref: 60-2017