Nicosia, Cyprus. The Cyprus Securities and Exchange Commission announced decisions affecting investment firms, including the withdrawal of the licences of TTCM Traders Trust Capital Markets Ltd and Conotoxia Ltd. The regulator said one case followed a request to renounce a licence, while the other was linked to failures to meet authorisation conditions.
TTCM licence withdrawn after renunciation request
CySEC said its most recent decision concerned TTCM Traders Trust Capital Markets Ltd, whose Cyprus Investment Firm authorisation number 107/09 was withdrawn following a decision taken on May 14, 2026.
According to the regulator, the company had expressly requested the renunciation of its licence.
CySEC said the decision was taken under section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of Directive DI87-05.
Conotoxia authorisation revoked
Earlier, on June 5, 2026, CySEC announced that it had decided to withdraw the authorisation of Conotoxia Ltd following a board decision taken on December 22, 2025.
The company held Cyprus Investment Firm licence number 336/17.
CySEC said the authorisation was withdrawn pursuant to article 9(4) of Directive DI87-05 and articles 8(1)(c) and 71(6)(c) of the relevant law.
Reasons cited by regulator
CySEC explained that the decision regarding Conotoxia stemmed from the company’s failure to continue satisfying the conditions under which its authorisation had originally been granted.
The regulator cited non-compliance with article 22(1) of the law and shortcomings related to the suitability of a member of the board of directors, the requirement to have at least two persons effectively directing business activities, the suitability of a shareholder, and the firm’s organisational arrangements.
As a result, CySEC concluded that the company no longer fulfilled the requirements necessary to maintain its authorisation.
Earlier suspension
CySEC also recalled that Conotoxia’s licence had been suspended since July 23, 2025, following an earlier decision published on that date.
