CySec fines WGM Services Ltd 


The Cyprus Securities and Exchange Commission (‘CySEC’) has imposed an administrative fine of €10.000 to a Cypriot Investment Firm (CIF), WGM Services Ltd for violation of the article 26(5) of the Law 144(I)-2007 which provides for the provision of investment services, the exercise of investment activities, the operation of regulated markets.

CySec informs that the CIF was still providing investment services through the websites and during the time that its CIF authorisation was suspended.

CIF authorisation of WGM Services Ltd was suspended since November 20, 2014.

CySec adds, that the CIF has complied with the Law and its CIF authorisation suspension has been revoked since December 22, 2014.

Source: CySec

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