CySec imposed an administrative fine of €100.000 to a natural person
The Board of the Cyprus Securities Exchange Commission (CySec) has issued an announcement to inform that, at the meeting held on 9 September 2016, decided to impose an administrative fine of €100.000 on Mr. Danny Rothman (or Mr. Daniel Rubinstein) for violating section 139(2) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (‘the Law’), as he submitted to CySec, during the year 2016, documents which are false or/and provide misleading information and date in relation to his academic qualifications and economic soundness. Particularly, Mr. Daniel Rothman (or Daniel Rubinstein):
i. does not possess the academic titles that he claimed to possess, and the relevant documents submitted were counterfeit.
ii. submitted tax statements for the years 2013 and 2014 that were falsified.
Furthermore, the Board decided, on the basis of the powers under section 127(2)(d) of the Law to prohibit Mr. Daniel Rothman (or Daniel Rubinstein) from exercising professional activity related to the financial sector for a period of five (5) years (until September 2021).
It is further noted that the case has been referred to the Attorney General for criminal investigation.
Source: CySec – decision-10-04-2016-for-the-imposition-of-an-administrative-fine