CySec Imposes Administrative Fine of €3,000 on Atlantic Securities Ltd

The Board of the Cyprus Securities and Exchange Commission (the 'CySEC') wishes to inform the public that, at its meeting held on the 11th October 2021, decided to impose an administrative fine of €3.000 to CIF Atlantic Securities Ltd (the 'Company') for noncompliance with article 16(2) of Regulation (EU) 596/2014 on market abuse, as it did not establish and maintain effective arrangements, systems and procedures for detecting suspicious orders and transactions, as those arrangements, systems and procedures do not take due account the non-exhaustive list of indicators of market manipulation contained in annex I of Regulation 596/2014 and specifically the indicator A. b) of the said annex.