CySEC fines CIF licensed Spot Capital Markets Ltd
Content of Penalty:
The Board of the Cyprus Securities and Exchange Commission (‘CySEC’) would like to inform the public that, at the meeting held on 20thNovember 2017, 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:
1. Section 36(1) of the Investment Services and Activities and Regulated Markets Law of 2007, as amended from time to time, and
2. 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. Full details/justification of the CySEC’s decision are/is available in the Greek text of the announcement.