CySEC Extends Ban on Crowd Tech's Shareholder Petros Zachariades Until 2025

The Cyprus Securities and Exchange Commission (CySEC) has extended its enforcement measures against Petros Zachariades, the sole shareholder of Crowd Tech Ltd, until April 14, 2025. The extension prolongs restrictions on Zachariades from exercising voting rights and performing management duties at the firm, which operates under the domain trade360.com.

Initially imposed in January 2023, CySEC's decision to suspend Zachariades' rights was based on findings that his influence as sole shareholder was detrimental to the "sound and prudent management" of Crowd Tech Ltd, formerly known as MPF Global Markets Ltd. The suspension was originally extended until September 13, 2024, but is now in place for an additional seven months, reflecting CySEC's ongoing concerns about the governance of the company.