Disclosure details -

Cyprus Securities and Exchange Commission

Year 2001Regulated by Government

The Cyprus Securities and Exchange Commission (CySEC) was established in accordance with section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity. It is an independent public supervisory Authority responsible for the supervision of the investment services market, transactions in transferable securities carried out in the Republic of Cyprus and the collective investment and asset management sector. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association.

Disclose broker

Sanction Fine

THE ULTIMA

Disclosure summary

Disclosure matching Website matching
Disclosure time 2022-04-19
Penalty amount $ 10,220.00 USD
Reason for punishment non-compliance with article 16(2) of Regulation (EU) 596/2014 on market abuse, as it did not establish and maintain effective arrangements and systems for detecting suspicious transactions, since it was not taking due account the circumstances of change in the price of the financial instruments (size of change, period of time, issuance of announcements by the issuer) in which it is trading, and which may give rise to reasonable suspicions that a transaction on the financial instrument could constitute insider dealing.

Disclosure details

CYSEC Board Decision

19 April 2022 CYSEC Board Decision Announcement date: 19.04.2022 Board decision date: 28.03.2022 Regarding: BrokerCreditService (Cyprus) Limited Legislation: Regulation (EU) 596/2014 on Market Abuse Subject: Fine €10.000 Judicial Review: Click here Judicial Review Ruling: Click here The Board of the Cyprus Securities and Exchange Commission (the ‘CySEC’) wishes to inform the public that, at its meeting held on the 28th March 2022, decided to impose an administrative fine of €10.000 to CIF BrokerCreditService (Cyprus) Limited (the ‘Company’) for non-compliance with article 16(2) of Regulation (EU) 596/2014 on market abuse, as it did not establish and maintain effective arrangements and systems for detecting suspicious transactions, since it was not taking due account the circumstances of change in the price of the financial instruments (size of change, period of time, issuance of announcements by the issuer) in which it is trading, and which may give rise to reasonable suspicions that a transaction on the financial instrument could constitute insider dealing. Full details/justification of the CySEC’s decision are/is available in the Greek text of the announcement.

Annex

Screenshot 1

More regulatory disclosure

Danger

2025-08-14

Warning regarding unregulated entities