The Cyprus Securities and Exchange Commission (CySEC) has informed the public that it has decided to impose an administrative fine of €30.000 to the company AIFM Bluehouse Investment Advisors Ltd.
The fine has been imposed for non compliance with section 16(1) of the Alternative Investment Fund Managers Law of 2013, as in force, as the Company did not functionally separate the function of risk management from the function of portfolio management, in accordance with Regulation (EU) No 231/2013.
The decision has been made during CySEC’s meeting held on 18th February 2019.
The official announcement can be seen here.