CySec imposed administrative fine on a Cyprus Investment Firm 

CySEC

The Board of the Cyprus Securities and Exchange Commission (CySec) has issued an announcement to inform the public that, at the meeting held on 25 July 2016, it decided to impose a total administrative fine of €2.000 to the Cyprus Investment Firm (CIF) M&L Invest Union Markets Ltd for non compliance with the following:

1. article 3 of Implementing Regulation (EU) No 680/2014 of the European Commission, and

2. paragraph 61(4) of the CySEC’s Directive DI144-2014-14 for for the Prudential Supervision of Investment Firms,

for not submit/notify its Capital Adequacy and Exposures for December 31, 2015 within the specified from the legislation deadline that is until 11/02/2016, but the Company done this on 24/05/2016.

Source: CySec – Decision Summary 10-08-2016 M L Invest Union Markets Ltd

 

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