CySEC Imposes €50,000 Fines on IC Markets

​The Cyprus Securities and Exchange Commission (CySEC) has announced an administrative fine of €50,000 against CIF IC Markets (EU) Ltd for violations of the Investment Services and Activities and Regulated Markets Law of 2017. The decision was made during a board meeting on July 1, 2024.

The fines are categorized as follows:

• ​€30,000 for failing to obtain the best possible result for clients when executing orders, as required by section 28(1)(a) of the L.87(I)/2017.

• ​€10,000 for not establishing and implementing effective arrangements to comply with section 28(1), as stipulated in section 28(4).

• €10,000 for not providing clear and understandable information about costs and charges, violating section 25(4)(b).

CySEC's enforcement underscores the importance of adherence to regulatory requirements in ensuring fair practices and transparency in investment services.