Authorisation
Hitomorrow Securities Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) as a Cyprus Investment Firm under licence number 237/14, granted on 20 June 2014. The authorised services and instruments are set out on the Company page; the authoritative record is the CySEC register entry.
The Company operates under, among others, the Investment Services and Activities and Regulated Markets Law of 2017 (Law 87(I)/2017) transposing Directive 2014/65/EU (MiFID II); Regulation (EU) 600/2014 (MiFIR); Commission Delegated Regulation (EU) 2017/565; Regulation (EU) 2019/2033 (IFR) and Law 165(I)/2021 transposing Directive (EU) 2019/2034 (IFD); Regulation (EU) 2016/679 (GDPR) and Law 125(I)/2018; the Prevention and Suppression of Money Laundering and Terrorist Financing Law and CySEC Directive DI87; and the directives and circulars issued by CySEC.
Authorisation by CySEC does not constitute an endorsement, guarantee or approval by CySEC of the Company, of its services or of any financial instrument. CySEC does not guarantee the performance of any investment.
Cross-border services
The Company has notified CySEC of its intention to provide services on a cross-border basis, under the freedom to provide services, in the following EEA member states:
Austria · Belgium · Bulgaria · Czech Republic · Denmark · Estonia · Finland · France · Germany · Greece · Hungary · Iceland · Ireland · Italy · Latvia · Liechtenstein · Lithuania · Luxembourg · Malta · Norway · Poland · Portugal · Romania · Slovakia · Slovenia · Spain · Sweden
The Company has also notified CySEC in respect of the provision of services to Mauritius and Seychelles. Services may be provided to a third country only where the Company complies with the regulatory regime of that country. The Company has not appointed any tied agent, does not use introducing brokers and does not operate an affiliate network.
The current notifications are those recorded in the CySEC register entry, which prevails over this summary.
Investor Compensation Fund
The Company is a member of the Investor Compensation Fund for clients of investment firms, established under Law 87(I)/2017 and governed by CySEC Directive DI87-07. The object of the Fund is to secure the claims of covered clients against a member of the Fund by paying compensation where the member is unable to meet its obligations arising from the covered services.
- Amount of compensation
- The lower of 90% of the cumulative covered claims of the client and €20,000
- Covered clients
- Retail clients. Professional clients, eligible counterparties and the categories of investor excluded by the Directive, including institutional investors, states and public authorities, and persons connected with the Company, are not covered.
- Conditions and formalities
- Compensation becomes payable where CySEC determines that the Company is unable to meet its obligations arising from covered services, or a court makes a relevant ruling. CySEC then publishes an invitation to covered clients to submit claims, specifying the procedure and deadline. Claims are submitted in writing on the prescribed form with supporting documents. The Fund assesses the claims and pays compensation within three months of completing its valuation, unless CySEC grants an extension.
The Investor Compensation Fund Policy sets out the covered services, the excluded categories of investor, the calculation of compensation and the claims procedure in full. This information is provided in accordance with paragraph 15 of Directive DI87-07 and is for information only.
Prudential disclosures and client assets
The Company is subject to the prudential framework for investment firms under Regulation (EU) 2019/2033 and Directive (EU) 2019/2034, and publishes an annual disclosure report in accordance with Part Six of that Regulation: Pillar III disclosure reports.
Client funds are held separately from the Company's own funds, in accounts identified as client accounts with credit institutions or other permitted entities. Client financial instruments are recorded so that they are at all times distinguishable from the assets of the Company. The arrangements are set out in the Terms and Conditions.
Complaints
Complaints are handled by the Compliance Function. Submitting a complaint is free of charge and does not affect the client's right to take legal action. A complaint should be made in writing, using the complaint form in the Complaints Policy, to:
- By post
- The Compliance Officer, Hitomorrow Securities Ltd, Office 202, Athalassis 54, 2nd Floor, Strovolos, 2023 Nicosia, Cyprus
| Stage | What happens | Time limit |
|---|---|---|
| Acknowledgement | Receipt is acknowledged, the complaint is registered and a unique reference number is provided, to be quoted in all subsequent correspondence with the Company, the Financial Ombudsman and CySEC. | 5 business days |
| Final response | The Company communicates the outcome of its investigation, an explanation of its position and any remedial measures. | 2 months |
| Extended response | Where a final response cannot be given within two months, the Company explains the reasons for the delay and indicates when the investigation is likely to be completed. | No later than 3 months |
If you are not satisfied with the outcome
An eligible complainant may refer the complaint to the Financial Ombudsman of the Republic of Cyprus, within four months of receiving the Company's final response (or, if none is given, of the date it was due). P.O. Box 25735, 1311 Nicosia · T +357 22 848900 · complaints@financialombudsman.gov.cy · www.financialombudsman.gov.cy
A complaint may also be submitted to the Cyprus Securities and Exchange Commission, which does not have restitution powers and does not investigate individual complaints. 19 Diagorou Street, CY-1097 Nicosia · P.O. Box 24996, 1306 Nicosia · T +357 22 506600 · info@cysec.gov.cy · www.cysec.gov.cy
Requests and complaints concerning personal data should be addressed to compliance@hi2morrowsecurities.com; a data subject may also complain to the Commissioner for Personal Data Protection at www.dataprotection.gov.cy.