CySec fined Administrative Services Provider
The Cyprus Securities Exchange Commission (CySec) has issued a press releases to inform that, at the meeting held on September 19th, 2016, decided to impose an administrative fine of €5.000 on the ASP Teos Corporate Services Ltd.
According to CySec’s announcement, the administrative fine was imposed for violating section 9 of the Law Regulating Companies Providing Administrative Services and Related Matters, as in force (‘the Law’), as it has not appointed a compliance officer with the prior approval of the CySec from September 2015 to 22.03.2016, the date of renouncing its authorisation.
Source: CySec – decision-19-09-2016-for-the-impostition-of-an-administrative-fine-to-teos-corporate-services-ltd
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