CySEC imposed an administrative fine to a Cyprus Investment Firm
The Cyprus Securities Exchange Commission (CySEC) has issued an announcement to inform that has decided to impose an administrative fine to a Cyprus Investment Firm (CIF).
According with the CySEC announcement:
The Board of the Cyprus Securities Exchange Commission would like to inform the public that, at its meeting of 1st March 2021, decided to impose a total administrative fine of €160.000 to CIF Atlas Capital Financial Services Ltd for non compliance with:
- The Law on Investment Services and Activities and Regulated Markets of 2007, as in force at the material time (Law 144(I)/2007),
- The Law on the Prevention and Combating of Money Laundering Act 2007, as in force at the material time (Law 188(I)/2007),
- The Directive DI144-2007-08,
- The Regulation (EU) 648/2012 (EMIR),
- The Law of the Cyprus Securities and Exchange Commission of 2009 (Law 73(I)/2009).