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The Cyprus Securities and Exchange Commission (CySEC) today released a new update regarding its ‘fast track’ examination scheme. The regulator said in a recent statement that it has decided to suspend the examination of applications for authorization, due to the extremely high numbers of applications received for participation in the scheme.
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It seems the initiative was very successful but CySEC was not ready for the huge rush, so it couldn’t cope with the volume of work in the time allotted. Therefore new requests have now been suspended temporarily until the ... (read more)