CIF F1 Markets Ltd Pays €150,000 to Settle with CySEC

The Cyprus Securities and Exchange Commission (CySEC), under article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, has the power to reach a settlement for any violation or possible violation, act or omission for which there is reasonable ground to believe that it took place in violation of the provisions of CySEC's supervised legislation.

A settlement has been reached with the CIF F1 Markets Ltd ("the Company") for possible violations of The Investment Services and Activities and Regulated Markets Law of 2017 ("the Law") and Directive DI144-2014-14 of the Cyprus Securities and Exchange Commission for the prudential supervision of investment firms ("the Directive"). More specifically, the settlement reached, involved assessing the Company's compliance after evaluation of findings as well as from assessment of compliance of the measures taken from the Company for the fulfillment of the conditions of its partial suspension as well as other corrective measures taken by the Company for the period June 2019 until July 2020.

The settlement reached with the Company, for the possible violations, is for the amount of one hundred and fifty thousand (€150,000), which the Company has already paid.