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CySEC Suspends Mind Money Limited Licence Over Regulatory Concerns

by THEFUTURE.TEAM

June 24, 2026

Regulator Flags Client Protection And Governance Risks

The Cyprus Securities and Exchange Commission (CySEC) has suspended the licence of Cyprus Investment Firm Mind Money Limited after identifying suspected breaches of regulatory requirements related to client protection, governance, and compliance obligations.

In a statement published on Tuesday, the regulator announced the full suspension of the company’s authorisation, licence number 115/10, under section 10(1) of Directive DI87-05, which governs the suspension and withdrawal of investment firm licences. According to CySEC, the decision is linked to suspected violations of section 22(1) of the Investment Services and Activities and Regulated Markets Law of 2017.

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What CySEC Says Went Wrong

According to the commission, Mind Money Limited may not be complying at all times with several conditions attached to its authorisation.

Among the issues identified, CySEC cited concerns that the company may have conducted activities outside the scope of its licence. The regulator also raised questions regarding the firm’s obligation to notify CySEC of changes to its board of directors, as well as compliance with requirements that investment firms must have at least two individuals effectively directing their business activities.

In addition, the commission referred to concerns regarding the suitability of one of the company’s shareholders. CySEC stated that the alleged shortcomings could affect compliance with regulatory requirements designed to safeguard investors and support the orderly functioning of the market.

One Month To Remediate

Mind Money Limited has been given one month to take the necessary steps to comply with the relevant legal provisions. While the suspension remains in force, the firm is prohibited from providing or carrying out investment services and activities. It may not enter into business transactions with new clients or promote itself as an investment services provider.

CySEC said the company may still perform certain limited actions where these are consistent with existing client instructions. That includes completing transactions already underway on behalf of the company and its clients, as well as returning client funds and financial instruments, provided such actions comply with the relevant directive.

Why The Decision Matters

Licence suspensions are among the supervisory measures available to regulators when concerns arise regarding compliance with licensing requirements.

CySEC’s decision highlights the importance placed on governance standards, regulatory reporting obligations, and compliance with the conditions attached to an investment firm’s authorisation. The measure also serves as a reminder that regulated entities are required to maintain those standards on an ongoing basis.

The company will now have one month to address the issues identified by the regulator and demonstrate compliance with the applicable legal requirements.

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Cyprus Promotes Ship Registry In Asia As Fleet Grows To 25-Year High

by THEFUTURE.TEAM

October 19, 2026

Cyprus is stepping up efforts to attract international shipowners, with Shipping Deputy Minister Marina Hadjimanolis holding high-level meetings in China and Japan as the country’s ship register reaches its strongest level in 25 years.

Running from October 14 to 29, the Asian mission focuses on expanding commercial ties, promoting the advantages of the Cyprus flag and strengthening cooperation with shipowners, shipbuilders and maritime authorities.

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China Meetings Target Shipowners And Industry Leaders

In Shanghai, Hadjimanolis met Wang Qian, vice-director of the Shanghai Pudong New Area Commission of Commerce and Shipping Service Office, ahead of the North Bund International Shipping Forum on October 20–21. Organisers expect around 4,000 participants from more than 50 countries and regions, with discussions covering international shipping, maritime safety, financing, insurance, digitalisation and the transition to cleaner fuels.

The minister also met representatives of Dalian Trawind Shipping and Fortuna Shipbrokers Inc. to present the Cyprus registry’s advantages and explore registration opportunities for vessel owners. On October 20, she is scheduled to speak at the 10th Annual Capital Link International Shipping Forum in Pudong, joining a ministerial roundtable on international maritime leadership.

A visit to Zhoushan is also planned for the naming ceremony of Kypros Island, a new vessel for the Cyprus register owned by Safe Bulkers. Launched in June at the Tsuneishi shipyard on Xiushan Island, the 81,200-deadweight-tonne methanol dual-fuel bulk carrier is scheduled for delivery at the end of October. According to the Zhejiang Maritime Safety Administration, sea trials were due to take place between October 11 and 16.

Japan Engagements Strengthen Maritime Ties

Before travelling to China, Hadjimanolis met Japan’s Parliamentary Vice-Minister for Land, Infrastructure, Transport and Tourism, Kenta Aoshima, in Tokyo on October 16. Her programme also included meetings with senior representatives of Shoei Kisen Kaisha, Nihon Shipyard, NYK Line, ITOCHU Corporation and SSY Projects, focusing on cooperation with Japanese shipowners, shipbuilders and shipping operators.

At the 5th Annual Capital Link Japan Maritime Forum, held at the Tokyo American Club, Hadjimanolis discussed maritime leadership, competitiveness, policy and international cooperation with Capital Link founder and president Nicolas Bornozis. Other sessions examined Japan’s shipbuilding strategy, new-vessel financing and the development of ammonia-powered ships.

The Tokyo programme followed a Cyprus Ship Registry reception on October 15 for representatives of Japan’s maritime and business communities. Hadjimanolis outlined the country’s shipping services and regulatory framework, while Polys Hajioannou, chief executive of Safe Bulkers and president of the Cyprus Union of Shipowners, delivered the opening remarks.

Registry Reaches Highest Level In 25 Years

At the reception, Hadjimanolis said the Cyprus Ship Registry had grown by 27% since September 2023, reaching its highest level in a quarter of a century. She attributed the expansion to efforts to improve competitiveness, simplify administrative procedures and provide more responsive services to international shipowners.

Cyprus’s inclusion on the White Lists of the Paris and Tokyo Memoranda of Understanding was another point highlighted by the minister. These lists reflect the safety and inspection performance of ships flying a national flag.

Existing commercial links with Japan include Safe Bulkers’ announcement in May of four Japanese-built dry bulk vessels scheduled for delivery in 2029.

South Korea Next On The Maritime Agenda

Hadjimanolis’ mission will continue in South Korea, where she is expected to attend the 2026 World Maritime Day Parallel Event and Korea Maritime Week alongside International Maritime Organization Secretary-General Arsenio Dominguez and government representatives from several countries.

Her programme will also include discussions on implementing international maritime conventions and bilateral talks aimed at strengthening Cyprus’s shipping ties with South Korea.

The Asian outreach comes as maritime centres compete for shipowners amid geopolitical uncertainty, fleet renewal and pressure to reduce shipping emissions. For Cyprus, the strategy combines promotion of its registry with closer relationships across Asia’s shipbuilding and shipping sectors.