CySec imposes administrative fine of €5.000 to a CIF 

Cyprus Securities and exchange commission (cysec)

The Cyprus Securities and Exchange Commission (CySec) has issued an announcement to inform investors that:

In its meeting held on February 09, 2015, decided to impose a total administrative fine of €5.000 to CIF TTCM Traders Trust Capital Markets Ltd (‘the Company’) for the infringement of:

1) article 41 of the CySec Law 2009, since the company provided a misleading statement to CySec regarding the increase of its own funds to comply with the articles 10 and 67(2) of the Cyprus Investment Services Law 144(I)-2007.

Source: CySec

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