This does not happen often. Typically, companies voluntarily revoke their CySEC license before it is revoked. This week, the Cyprus regulator announced that it has decided to withdraw the Cyprus Investment Firm (CIF) authorization of Holiway Investments Ltd d/b/a Milton Prime with license number 248/14. CySEC said the company does not have sufficient initial capital to continue its operation. Milton Prime has not yet published the revocation on its website.
CySEC ordered Milton Prime (www.miltonprime.eu) to inform the public about the withdrawal of its license on all its websites, along with the required procedure to be followed by its clients to get their funds back. Milton Prime has to return the client funds and financial instruments, including any profits.
There is also a Milton Prime offshore broker scheme, operated with the domain MiltonPrime.com through Milton Global Ltd, registered in Seychelles. This offshore entity has a securities dealer license from the FSA Seychelles.
The two Milton Prime schemes are interconnected, as the information on the FSA site shows. An email address of Holiway Investments Ltd is given there.
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If you have any information about Milton Prime, its operators, and its facilitators, please share it through our whistleblower system, Whistle42. We will publish a detailed review of Milton Prime soon.
