Violation of Cyprus Popular Bank Public Co Ltd
The Board of the Cyprus Securities Exchange Commission (‘CySEC’) wishes to inform the public that, at its meeting, decided that the company “Cyprus Popular Bank Public Co Ltd” has acted in violation of article 19 of the Insider Dealing and Market Manipulation (Market Abuse) Law of 2005, as amended from time to time (‘the Law’), as specified in paragraph 4(d)(iv) of DI116-2005-03, as it engaged in market manipulation in relation to its financial instruments during the period of 27.9.2011 (initiation of the emergency liquidity assistance (‘ELA’) operations) until 15.3.2013 (last date of trading of the Company’s financial instruments on the Stock Exchange), by failing to make a public announcement or/and incomplete announcement in relation to the Company’s recourse to the ELA.
The CySEC, after taking into account the representations of the parties involved, decided, at the meeting held on January 25, 2016, not to impose an administrative fine to the Company for the violation of article 19 of the Law.
Source: CySec
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