Cyprus Investment Firm fined; The reason?
The Board of the Cyprus Securities and Exchange Commission (the ‘CySEC’) has issued an announcement to inform for the imposition of an administrative fine to a Cyprus Investment Firm (CIF).
In accordance with the announcement, the CySEC at its meeting held on the 14th September 2020, decided to impose a total administrative fine of €5.000 to CIF Feldmans Management (Overseas) Limited (the ‘Company’) for non-compliance with section 32(3) of the Cyprus Securities and Exchange Commission Law of 2009.
The Section 32(3) of the Cyprus Securities and Exchange Commission Law of 2009 provides that any person to whom the request of the Commission for the collection of information shall be addressed shall be bound to provide the requested information timely, fully and accurately.
Source: CySEC
