CySEC Fines Titanedge Securities €100,000 for Regulatory Violations

The Cyprus Securities and Exchange Commission (CySEC) has imposed fines totalling €100,000 on Cyprus investment firm Titanedge Securities Ltd, the regulator announced.

The fines relate to violations of The Investment Services and Activities and Regulated Markets Law of 2017. According to CySEC, the firm breached section 5(1) of the Law between 1 January 2023 and 31 December 2024 by providing investment advice as a regular occupation without prior authorisation from CySEC. For this violation, a fine of €30,000 was imposed.

CySEC also fined the firm €30,000 for violating section 22(1) of the Law during the same period. The regulator said Titanedge failed to comply at all times with the authorisation condition of Section 17(2) of the Law, as specified in Article 22(2)(a) of Delegated Regulation (EU) 2017/565, because it did not establish adequate policies and procedures to ensure compliance with its obligations under the Law.

A further fine of €40,000 was imposed for violating section 25(3)(a) of the Law between 24 December 2023 and 24 May 2024. According to CySEC, the firm did not ensure that all information, including marketing communications, provided to clients or potential clients was fair, clear and not misleading, as required by Article 44 of Delegated Regulation (EU) 2017/565.