CySEC Announces €200,000 Settlement with CIF Zemblanco Investments Ltd

The Cyprus Securities and Exchange Commission (CySEC) announced that it has reached a settlement agreement with the Cyprus Investment Firm (CIF) Zemblanco Investments Ltd.

According to the Cypriot watchdog, the broker has possibly violated the Investment Services and Activities and Regulated Markets Law of 2017 and the Directive DI144-2014-14 of the Cyprus Securities and Exchange Commission for the Prudential Supervision of Investment Services Firms.Prevention and Suppression of Money Laundering and Terrorist Financing Law as amended of 2007, as these appeared on an inspection taking place during the period December 2020 -December 2021.

The settlement reached with the company, for the possible violations, is for the amount of €200,000, which the company has already paid.

CySEC has become extremely vigilant and is actively flagging and taking action against any violations. Earlier, CySEC has reached a settlement with the CIF ICC Intercertus Capital Limited for possible violations of Article 42 of Regulation (EU) No 600/2014 on markets in financial instruments during the period from January 2020 to May 2021.