CySEC Announces €50,000 Settlement with Broctagon Prime Ltd

The Cyprus Securities and Exchange Commission (CySEC) announced a €50,000 settlement with Broctagon Prime Ltd. The settlement pertains to potential violations by the firm of certain articles of the Investment Services and Activities and Regulated Markets Law of 2017.

Specifically, an investigation leading to the settlement assessed the company's compliance during the third quarter of 2021. The findings indicated that Broctagon Prime Ltd may have acted in violation of articles 25(1) and 25(3)(a) of the Law, which relate to general principles and the provision of information to clients.

The company has agreed to pay the full settlement amount of €50,000. CySEC clarified that all funds collected from settlement agreements are recognized as revenue for the Treasury of the Republic of Cyprus and do not constitute income for the Commission itself.