Leading EU Financial Services Advisory Firm MAP S.Platis Obtains First Investment Firm License from Kuwait

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Nov 02, 2010, 09:03 ET

LIMASSOL, Cyprus, Nov. 2, 2010 /PRNewswire/ -- MAP S.Platis is pleased to announce the latest Cyprus Investment Firm license awarded to one of its FX brokerage clients, bringing the total number to 17 successful Cyprus Investment Firm license applications secured and consulted by the firm in the last three years.

With the constant influx of foreign financial services and investment firms into Cyprus, the work done by the leading financial services advisory firm MAP S.Platis is crucial to the continued development of the sector whilst through their assistance and expertise, such firms can be more successful in their attempts to secure an EU investment firm license.

Over the last three years, Cyprus has experienced a great influx of foreign investment firms and particularly international FX brokers, who have been seeking a Cyprus Investment Firm (CIF) license. In total within the last three years, a total of 33 firms have received a CIF license allowing them to offer their services within the EU.

There is no doubt of the importance of the FX market in Cyprus and the intricacies of this industry. The Cypriot regulatory authority, the Cyprus Securities and Exchange Commission (known as CySEC) has become increasingly strict with the applications it receives and benchmarks it puts in places before providing authorisations, in order to maintain a high standard amongst licensees who include a great number of international FX brokers and FX market makers.

The new more stringent regulatory requirements and complicated applications procedures which must be satisfied in order to meet the requirements of the CySEC CIF license have resulted in an increased demand for the specialist services provided by MAP S.Platis. MAP S.Platis is the leading EU Financial services consultancy firm providing advisory, training and research services to an impressive list of clients primarily based in Europe. The company's expert teams have in fact promoted or consulted during the license or activation of an impressive 61% of all CIF licenses secured since the passing of the relevant EU financial services Law in Cyprus.

This is a strong indication of the firm's proven experience in this complicated sector of financial regulation. In fact, recently, MAP S.Platis has also been involved in training sessions and seminars for the regulatory staff at CySEC also, a clear vote of confidence for the services of the leading financial services advisor, further strengthening their position as market leaders in their field.

Most recently, MAP S.Platis has been involved in securing the first-ever CIF license for an entity from the State of Kuwait. This involved the firm undertaking a key role of liaising between the Cypriot regulator and all relevant equivalent bodies of authority within Kuwait and to effectively manage the application to its successful culmination. This now opens the path for further investment firms from the State of Kuwait to obtain their Cyprus Investment Firm licenses.

Due to the increased level of interest in its services and several client requests, MAP S.Platis will be participating in the forthcoming Middle East Online Trading Summit, taking place on 9-10 November 2010 in Dubai, United Arab Emirates.

This will be an opportunity for all those who would like further information on obtaining an EU financial institution license in order to operate within or from the European Union, to discuss their options with a firm which has experience and expertise in this sector and an impressive track record for successful licenses obtained. For all those wishing to meet with MAP S.Platis, they may visit Stand No. X48 at the exhibition.

As well as providing information on their spectrum of services, MAP S.Platis consultants will be available to discuss and explain various available models and types of European investment, corporate and financial structures with companies interested in obtaining their European Union financial services license or becoming active in the European union.

About MAP S.Platis:

MAP S.Platis is a specialised and comprehensive EU Financial Services consultancy firm located in Cyprus, offering consulting services, executive training and research to the European financial services sector, with an impressive client list, throughout Europe. In Cyprus, MAP S.Platis have registered, assisted and consulted the registration of over 60% of all Investment Firms registered under MiFID, to-date and regularly provide training to these firms and also the government regulatory authorities. For further information about MAP S.Platis, visit www.mapsplatis.com, email [email protected] or call +357 2535 1335.

For further information on the participation of MAP S.Platis at the forthcoming Middle East Online Trading Summit please visit http://www.meotsummit.com.