CySEC Withdraws Licences And Memberships In Strategic Regulatory Action

by THEFUTURE.TEAM

September 5, 2025

Reinforcing Regulatory Compliance

The Cyprus Securities and Exchange Commission (CySEC) has taken decisive steps to ensure market integrity by withdrawing the Cyprus Investment Firm licence from Fibo Markets Ltd, following the firm’s own decision to renounce its authorisation. Concurrently, the regulator has terminated Investors Compensation Fund (ICF) membership for four additional firms, reflecting a broader push for heightened regulatory discipline.

Licence Withdrawal And Membership Termination

At its meeting on August 25, 2025, CySEC confirmed the withdrawal of Fibo Markets Ltd’s licence and the removal of Oasis Wealth Management Ltd, The Alternative GMI Ltd, Itrade Global (CY) Ltd, and Viverno Markets Ltd from the ICF. These measures come on the heels of earlier decisions to revoke operating licences for the affected entities, including the withdrawal of the licence for Oasis Wealth Management Ltd as a UCITS management company and the revocation of The Alternative GMI Ltd’s authorisation as an Alternative Investment Fund Manager.

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Client Compensation And Future Procedures

CySEC has underscored that former clients of these firms will still retain their rights to compensation for investment operations conducted prior to the regulatory changes, provided that the eligibility criteria are met. Moreover, the regulator has affirmed that the initiation of compensation procedures remains available where necessary, ensuring that client protections are maintained.

Industry Ramifications

This pronounced regulatory intervention not only safeguards investor interests but also reinforces the importance of continual compliance in a dynamic financial landscape. By retracting the licences and ICF membership of these entities, CySEC is setting a benchmark of accountability that may reverberate throughout the industry, prompting firms to re-evaluate their operational standards to remain competitive and compliant.

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Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

by News Editor

October 21, 2026

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

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ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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