CySEC Announces €100,000 Settlement With Prior Capital Execs

The Cyprus Securities and Exchange Commission(CySEC) today announced that it has reached a settlement agreement with the executive Board Members of Prior Capital Cy Ltd, Messrs. Konstantin Yasnov, Vladimir Zalogin and Ekaterina Zalogina.

As part of the settlement, the aforementioned persons has paid €100,000 to CySEC for possible regulatory violations.

According to the Cypriot watchdog, the aforementioned persons has possibly violated the Τhe Investment Services and Activities and Regulated Markets Law of 2017.

More specifically, the settlement reached involved assessing the compliance of the company's Board of Directors with article 10(1) of the Law for the period July 2018 – March 2020 regarding governance arrangements.

Fazzaco earlier reported that Dimitra Kalogirou, the Chairwoman of CySEC, has stressed in an interview the commitment to further strengthening supervision and prevention, as in June, the new prudential framework​ for Cyprus investment firms (CIFs) will be implemented.