No fines for Quickbit Limited following investigation in Gibraltar
Quickbit announces today that the Gibraltar Financial Services Commission (GFSC) has now completed its investigation into Quickbit Limited. The investigation has resulted in the revocation of Quickbit Limited's local registration. However, GFSC has found no reason to impose fines on Quickbit Limited.Quickbit previously reported that its subsidiary in Gibraltar had been under investigation by GFSC for deficiencies in customer knowledge processes. These deficiencies were present in the local part of the operation conducted as part of the transaction structure before the start of 2023.