CySEC Fines Capital Com SV Investments Ltd for Regulatory Breaches

The Board of the Cyprus Securities and Exchange Commission (CySEC) has fined CIF Capital Com SV Investments Ltd 10,000 euros for regulatory breaches.

Fazzaco Live Webinar on 7th April: Nahum Greenberg Talks About MarksMan Liquidity Hub

"The Board of the Cyprus Securities and Exchange Commission wishes to inform the public that, at its meeting held on the 14th March 2022, decided to impose an administrative fine of €10.000 to CIF Capital Com SV Investments Ltd for non-compliance with article 16(2) of Regulation (EU) 596/2014 on market abuse, after informing CySEC with undue delay, through two suspicious transactions and orders reports, for its reasonable suspicions that certain transactions could constitute insider dealing,"the commission states.

Earlier this year, CySEC has decided to withdraw the Cyprus Investment Firm authorisation of Maxigrid Ltd. CySEC reached to the above decision due to the Company's non-compliance with article 22(1) of the Law, in fulfilling the condition of article 17(9) of the Law at all times, as this is further specified in paragraphs 4(1) and 6(1) of the Directive DI187-01 for the Safeguarding of Client Assets, Product Governance Obligations and Inducements, with regard to the safeguard of clients' funds, hereby no longer meeting the conditions under which its authorisation was granted.