A CySEC license may be modified in different ways to fulfill certain needs or conditions. For example, a Market Maker License with capital requirements deficiencies may need to renounce its DOA (Dealing on Own Account License) in order to become STP and lower the capital amount. This is often seen through Suspensions of License Decisions on the CySEC website. Suspensions can be partial or total, temporary or permanent/final decision. A modification can also be done the other way around, an STP wishing to become a Market Maker thus applying to CySEC for a License Extension. There are many other modifications that can be done to the CySEC license and most of variations of license are possible. Our team of experts can work out the best type of license that suits your business needs.
A license extension involve a series of actions and procedures that require the Regulator’s approval. Such actions are usually accompanied by some conditions that must be fulfilled. The same way a CIF is entitled to extend its license, a CIF is also entitled, at any time, to Voluntarily Renounce, Partially or Totally its license. Almost all license modifications are subject to CySEC’s approval and come with conditions and deadlines, however the Renouncement of a License, especially the Total one, involves a bit more complicated procedure than the one of the extension and comes with serious consequences for non-complying cases. Nothing is difficult and complicated for our experts though and there is no problem without solution. Connect with us to find out what we can do for your business!
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