Breaking news

CySEC Withdraws Eurotrade Investments’ Licence Over Compliance Breaches

The Cyprus Securities and Exchange Commission (CySEC) has withdrawn the Cyprus Investment Firm (CIF) licence of Eurotrade Investments Rgb, citing breaches of regulatory requirements on management and organizational arrangements.

According to the regulator, the decision was based on breaches of Articles 9(16) and 17(2) of the law. Article 9(16) requires an investment firm to have at least two people effectively directing its business, while Article 17(2) covers the organizational arrangements required for compliant operations.

“Cysec reached the above decision due to the company’s non-compliance with Articles 9(16) and 17(2) of the law, namely in relation to the requirement to have at least two persons effectively directing its business activities and in relation to its organisational arrangements,” the regulator said.

Licence Withdrawal Ends Investment Services

CySEC said the breaches meant Eurotrade Investments Rgb no longer met the conditions under which its investment firm authorization had been granted.

Following the withdrawal, the company must immediately remove references on its websites and elsewhere to providing investment services, as well as claims relating to CySEC licensing or supervision.

The firm must also review and resolve customer complaints submitted to it. It is prohibited from providing investment or ancillary services following the withdrawal of its authorization.

Governance Requirements Remain Central

The decision highlights the importance of management and organizational requirements within the regulatory framework for investment firms. Maintaining the required governance structure is a condition of authorization, and failure to meet those requirements can result in the withdrawal of a licence.

More Than 1.5 Billion People Faced Dangerous Heat This Summer

More than 1.5 billion people were exposed to dangerous levels of heat this summer, according to a global analysis by nonprofit Climate Central.

The study found that Europe experienced the most unusual heat during June-August 2026, with nearly nine in 10 Europeans exposed to at least one month of what researchers classify as “risky heat.”

Europe Emerged As The World’s Hottest Region

Climate Central defines risky heat as temperatures above 90% of local temperatures recorded between 1991 and 2020 for the same period. Researchers use the threshold to identify temperatures at which health risks begin to increase.

Across the world, people in 203 countries experienced at least 30 days of risky heat. In 54 countries, June-August 2026 was the hottest such period on record, while seven of the 10 countries with the largest temperature anomalies were in Europe.

France recorded the largest national temperature anomaly, at 3.5C above its historical average.

“Whether it’s nine in 10 Europeans enduring risky heat, hundreds of millions impacted across Asia and Africa, or relentless record-breaking temperatures in North America, human-driven warming is pushing communities beyond safe physical limits,” said Kristina Dahl of Climate Central.

She said the summer’s heat should be viewed in terms of its immediate effects on health systems, labor productivity, infrastructure and household finances.

Simon Stiell, executive secretary of the United Nations Framework Convention on Climate Change (UNFCCC), who was not involved in the study, said the findings show the rising costs of climate change linked to fossil fuel use.

Clean Energy Faces Rising Demand

Europe’s extreme summer was part of a broader trend that scientists say would have been “virtually impossible” without climate change. Earlier this month, the United Nations said limiting warming to 1.5C is no longer achievable under current conditions.

The latest United Nations Environment Programme (UNEP) outlook projects 1.8C of warming in the best-case scenario and more than 2C in less favorable cases. UNEP now describes the likely pathway as “overshoot, peak and decline.”

Renewable energy is central to limiting that overshoot. Renewables generated almost 34% of global electricity in 2025, but UNEP says the share would need to reach 60%-70% by 2030 under a limited-overshoot pathway.

In the European Union, wind and solar generated more electricity than fossil fuels for the first time last year. SolarPower Europe estimates that solar generation has saved the bloc €33.8 billion in avoided gas imports since the start of the war on Iran.

Power Grids Struggle With Growing Demand

Investment in clean energy has reached about $1.9 trillion annually, but renewable generation is meeting only around 40% of the increase in electricity demand. Air conditioning and the rapid expansion of artificial intelligence are contributing to that growth.

According to the International Energy Agency, data center electricity use increased 17% in 2025, reaching roughly 1.5%-2% of global electricity demand. That figure is expected to double by 2030.

Europe’s aging power grids are also struggling to integrate growing amounts of renewable generation, leaving some solar and wind capacity unused. Battery storage can help reduce those bottlenecks, but investment has not kept pace with the scale of the challenge.

This summer’s heat is adding pressure on governments, businesses and infrastructure systems to adapt to higher temperatures while expanding low-carbon energy capacity.

Aretilaw firm
Uol
eCredo
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter