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CySEC Fines CIF Capital Com SV Investments Ltd.

The Board of the Cyprus Securities and Exchange Commission ( CySEC  ) fines CIF Capital Com SV Investments Ltd. In a statement released on CySEC’s website, CIF Capital Com SV Investments Ltd. was fined by 10,000 euros.

“The Board of the Cyprus Securities and Exchange Commission (the ‘CySEC’) wishes to inform the public that, at its meeting held on the 14th March 2022, decided to impose an administrative fine of €10.000 to CIF Capital Com SV Investments Ltd (the ‘Company’) for non-compliance with article 16(2) of  Regulation  (EU) 596/2014 on market abuse, after informing CySEC with undue delay, through two suspicious transactions and orders reports, for its reasonable suspicions that certain transactions could constitute insider dealing.”

source: CySEC

Article 16(2)

Article 16 discusses the prevention and detection of market abuse. Article 16(2) states the following:

“Any person professionally arranging or executing transactions shall establish and maintain effective arrangements, systems and procedures to detect and report suspicious orders and transactions.

“Where such a person has a reasonable suspicion that an order or transaction in any financial instrument, whether placed or executed on or outside a trading venue, could constitute insider dealing, market manipulation or attempted insider dealing or market manipulation, the person shall notify the competent authority as referred to in paragraph 3 without delay.”

source: CySEC

In January 2022 Atlantic Securities Ltd. was also fined by CySEC in violation of article 16(2). Atlantic Securities were only fined by 3,000 euros, a significantly lower amount than CIF Capital Com SV Investments Ltd.

The Board of the Cyprus Securities and Exchange Commission ( CySEC  ) fines CIF Capital Com SV Investments Ltd. In a statement released on CySEC’s website, CIF Capital Com SV Investments Ltd. was fined by 10,000 euros.

“The Board of the Cyprus Securities and Exchange Commission (the ‘CySEC’) wishes to inform the public that, at its meeting held on the 14th March 2022, decided to impose an administrative fine of €10.000 to CIF Capital Com SV Investments Ltd (the ‘Company’) for non-compliance with article 16(2) of  Regulation  (EU) 596/2014 on market abuse, after informing CySEC with undue delay, through two suspicious transactions and orders reports, for its reasonable suspicions that certain transactions could constitute insider dealing.”

source: CySEC

Article 16(2)

Article 16 discusses the prevention and detection of market abuse. Article 16(2) states the following:

“Any person professionally arranging or executing transactions shall establish and maintain effective arrangements, systems and procedures to detect and report suspicious orders and transactions.

“Where such a person has a reasonable suspicion that an order or transaction in any financial instrument, whether placed or executed on or outside a trading venue, could constitute insider dealing, market manipulation or attempted insider dealing or market manipulation, the person shall notify the competent authority as referred to in paragraph 3 without delay.”

source: CySEC

In January 2022 Atlantic Securities Ltd. was also fined by CySEC in violation of article 16(2). Atlantic Securities were only fined by 3,000 euros, a significantly lower amount than CIF Capital Com SV Investments Ltd.


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