Hoch Capital Pays €260,000 Penalty to Reach Settlement with CySEC

The Cyprus Securities and Exchange Commission (CySEC) announced that it has reached a settlement with Cyprus Investment Firm Hoch Capital Ltd regarding possible violations of the Investment Services and Activities and Regulated Markets Law of 2017. According the announcement, the Company has paid the €260,000 penalty imposed by CySEC.

CySEC's decision on the penalty was based on a comprehensive compliance investigation into the company's conditions for CIF authorisation, conflicts of interest, general principles and information to clients, and obligations to execute orders on terms most favorable to the client and to submit correct, complete and accurate information for the period January 2018 until April 2020.

Hoch Capital Ltd is a FX / CFDs brokerage firm located in Limassol, Cyprus. This July, the firm's Cyprus Investment Firm (CIF) authorisation was withdrawn by CySEC as a result of its application to voluntarily renounce the authorisation. This April, www.tradeatf.com, the website used by Hoch Capital, was blocked by Italy's regulator CONSOB because it violated the ban imposed on it by CONSOB in December 2019.