Genius Funds is suppressed by the authorities

According to the warning provided by the Cyprus Securities and Exchange Commission (CSEC) an online investment project Genius Funds is not authorized by the local authorities to perform its business activity.

The Commission urges in particular that Genius Investments Ltd behind the online project Genius Funds:

1. Is not permitted to provide investment and ancillary services in the Republic, pursuant to Investment Services and Activities and Regulated Markets Law, as:

i. It has never been authorized by the Commission.
ii. Ιt is not a bank or a cooperative firm, established in the Republic and authorised to provide such services.
iii. No notification has been received by a competent authority of another Member State, pursuant to sections 77 and 80 of the abovementioned Law.

2. Is not regulated by the Commission and the authorisation with the number CIF 087/07, which the abovementioned company is alleged that it possesses, is fake.

At the end of the notification published on the official website the Commission added that Genius Funds is not regulated by the CSEC.