Shareholder of a Cyprus Investment Firm fined by CySec 

Cyprus Securities and exchange commission (cysec)

The Board of the Cyprus Securities and Exchange Commission (CySec) has issued an announcement to inform the public that, at its meeting held on 13 November 2017, decided to impose an administrative fine of €10.000 to Mr. Pavel Krymov, Shareholder of Skopelino Finance Ltd at the time (now Concorde Investments Ltd).

According CySec’s announcement, the decision to fine Mr. Pavel Krymov is for non compliance with section 139 of the Investment Services and Activities and Regulated Markets Law of 2007, as in force, as he did not ensure for the correctness, completeness and accuracy of information notified to CySec since he provided false and/or misleading information and/or withheld material information in his questionnaire which was submitted to CySec on July 2012 regarding his relation with a certain company.

Source: CySec – Decision 01-10-2018 for the imposition of administrative sanction

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