The Cyprus Capital Market Committee (CYSEC) today announced a 40,000 euro settlement with the Cyprus Investment Company (CIF) Exclusive Change Capital Ltd.
The settlement concerns the possible breach of investment services and activities and the regulated markets of 2017, as amended (the “law”).
Specifically, the survey for which the settlement was achieved concerned the assessment of the Company’s compliance, during the period January 2021 – August 2021, under Article 22 (1) of the Act on the state of authorization specified in Article 17 (5) (b) of the law on the organizational requirements required by CIF.
The company has paid € 40,000.
CYSEC notes that all the amounts paid by settlement agreements are considered income (income) of the Ministry of Finance of the Republic and do not constitute CYSEC income.