The Board of the Cyprus Securities and Exchange Commission (CySEC) has just informed that, at the meeting held on 20th November 2017, it has decided to impose a total administrative fine of €50.000 to CIF Spot Capital Markets Ltd for non compliance within the period of 1st January 2016 to 30th June 2016, with the following:
- Section 36(1) of the Investment Services and Activities and Regulated Markets Law of 2007, as amended from time to time, and
- Section 36(1)(a) of the Law and Paragraph 6, subparagraph (2) of the Directive DI 144-2007-02 of 2012 of the Securities and Exchange Commission for the Professional Competence of Investment Firms and the Natural Persons Employed by them.
The complete announcement can be seen here.