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Public Information Board Decisions
Board Decisions
Announcement Date: 10 Apr. 2024 Board Decision Date: 19 Mar. 2024
Regarding: Veles International Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Influence exercised by Mr. Dmitry Vitalyevich Bugayenko to the sound and prudent management of the CIF Veles International Ltd
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Apr. 2024 Board Decision Date: 19 Mar. 2023
Regarding: OTKRITIE BROKER LTD
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Influence exercised by Otkritie FC Bank to the sound and prudent management of the CIF Otkritie Broker Ltd
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2024 Board Decision Date: 12 Feb. 2024
Regarding: Triumph Int. (Cyprus) Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Influence exercised by Mr. Chong Chun Hseung to the sound and prudent management of the Triumph Int. (Cyprus) Ltd
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 03 Apr. 2024 Board Decision Date: 26 Mar. 2024
Regarding: Toxotis Investments Public Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of trading of shares
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 02 Apr. 2024 Board Decision Date: 29 Jan. 2024
Regarding: Notesco Financial Services Ltd
Legislation: Regulation (EU) Νο. 600/2014
Subject: Settlement €100.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 02 Apr. 2024 Board Decision Date: 12 Feb. 2024
Regarding: Noteris Services Ltd
Legislation: Τhe Investment Services and Activities and Regulated Markets Law
Subject: Settlement €50.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 02 Apr. 2024 Board Decision Date: 19 Mar. 2024
Regarding: Crowd Tech Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Influence exercised by Petros Zachariades to the sound and prudent management of the CIF Crowd Tech Ltd
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 28 Mar. 2024 Board Decision Date: 19 Mar. 2024
Regarding: Louis Plc
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit to takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 13 Mar. 2024 Board Decision Date: 26 Feb. 2024
Regarding: Treefund AIFLNP V.C.I.C. Ltd
Legislation: The Cyprus Securities and Exchange Commission Law The Alternative Investment Funds Law
Subject: Total Fine €25.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Mar. 2024 Board Decision Date: 15 Jan. 2024
Regarding: Fiduserve Asset Management Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Total fine €50.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 11 Mar. 2024 Board Decision Date: 12 Feb. 2024
Regarding: Treefund AIFLNP V.C.I.C. Ltd
Legislation: Τhe Prevention and Suppression of Money Laundering and Terrorist Financing Law, Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing
Subject: Total Fine €1.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Feb. 2024 Board Decision Date: 09 Oct. 2023
Regarding: Bluehouse Investment Advisors Ltd
Legislation: The Alternative Investment Fund Managers Law
Subject: Fine €30.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 14 Feb. 2024 Board Decision Date: 15 Jan. 2024
Regarding: RAIF ENSO Energy Investments RAIF V.C.I.C. Ltd - Investment Compartment Multi Asset
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of a RAIF Investment Compartment authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Feb. 2024 Board Decision Date: 29 Jan. 2024
Regarding: Deltamark Fund Management Ltd
Legislation: The Alternative Investment Fund Managers Law
Subject: Withdrawal of AIFM operation license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Feb. 2024 Board Decision Date: 04 Dec. 2023
Regarding: Leverate Financial Services Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Feb. 2024 Board Decision Date: 11 Dec. 2023
Regarding: Fintailor Investments Ltd
Legislation: The Prevention and Suppression of Money Laundering and Terrorist Financing Law, Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing
Subject: Settlement €200.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Feb. 2024 Board Decision Date: 29 Jan. 2024
Regarding: Petrolina (Holdings) Public Ltd
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit to takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 06 Feb. 2024 Board Decision Date: 29 Jan. 2024
Regarding: Inveqo Fund Management Ltd
Legislation: The Alternative Investment Fund Managers Law
Subject: Withdrawal of AIFM operation license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 31 Jan. 2024 Board Decision Date: 23 Oct. 2023
Regarding: Investment Compartments AFK Middle East RAIF Sub Fund (RAIF54_1) and AFK Asia RAIF Sub Fund (RAIF54_2) of the RAIF AFK Multi RAIF V.C.I.C. Plc
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of Registration in the RAIF’s Register of RAIF’s Investment Compartments
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 30 Jan. 2024 Board Decision Date: 22 Jan. 2024
Regarding: Toxotis Investments Public Ltd, Isxis Investment Public Ltd, Regallia Holdings & Investments Public Ltd and Aias Investment Public Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of trading of shares
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 30 Jan. 2024 Board Decision Date: 23 Oct. 2023
Regarding: Directors of the Cyprus Trading Corporation Plc
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Settlement
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 30 Jan. 2024 Board Decision Date: 23 Oct. 2023
Regarding: Directors of the Woolworth (Cyprus) Properties Plc
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Settlement
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 29 Dec. 2023 Board Decision Date: 27 Mar. 2023
Regarding: NAGA MARKETS EUROPE LTD
Legislation: Τhe Investment Services and Activities and Regulated Markets Law Regulation (EU) 600/2014
Subject: Settlement €150.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 28 Dec. 2023 Board Decision Date: 11 Dec. 2023
Regarding: Polyvalent Capital Management Limited
Legislation: The Alternative Investment Fund Managers Law
Subject: Withdrawal of AIFM operation license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 28 Dec. 2023 Board Decision Date: 04 Dec. 2023
Regarding: BCM Begin Capital Markets CY Ltd
Legislation: Τhe Investment Services and Activities and Regulated Markets Law, Regulation (EU) 1286/2014
Subject: Settlement €50.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Dec. 2023 Board Decision Date: 04 Dec. 2023
Regarding: Triumph Int. (Cyprus) Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Influence exercised by Chong Chun Hseung to the sound and prudent management of the Triumph Int. (Cyprus) Ltd
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Dec. 2023 Board Decision Date: 11 Dec. 2023
Regarding: Cyprus Trading Corporation Plc, Woolworth (Cyprus) Properties Plc, Ermes Department Stores Plc and Aias Investment Public Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of trading of shares
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Dec. 2023 Board Decision Date: 11 Dec. 2023
Regarding: NTBP Management Company Limited
Legislation: The Alternative Investment Fund Managers Law
Subject: Withdrawal of AIFM operation license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Dec. 2023 Board Decision Date: 11 Dec. 2023
Regarding: A.Tsokkos Hotels Public Ltd, Toxotis Investments Public Ltd, Dome Investments Public Company Ltd, Isxis Investment Public Ltd και Regallia Holdings & Investments Public Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of trading of shares
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 11 Dec. 2023 Board Decision Date: 16 Oct. 2023
Regarding: AAA Regent (Trustees) Limited
Legislation: The Prevention and Suppression of Money Laundering and Terrorist Financing Law
Subject: Re-examination
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: Aias Investment Public Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine €9.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: KDM Shipping Public Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine €9.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: MLK Foods Public Company Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine €8.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: Cyprus Trading Corporation Plc
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €7.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: Woolworth (Cyprus) Properties Plc
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €7.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: Ermes Department Stores Plc
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €7.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: Isxis Investment Public Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €7.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: Regallia Holdings & Investments Public Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €3.750
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: Karyes Investment Public Company Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €3.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: Harvest Capital Management Public Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €3.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: Toxotis Investments Public Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €2.750
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: Agroton Public Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €1.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2023 Board Decision Date: 24 Apr. 2023
Regarding: Seabird Exploration Plc
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total Fine €1.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Dec. 2023 Board Decision Date: 23 Oct. 2023
Regarding: AIF GG Aspire AIF V.C.I.C. Limited
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of AIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Dec. 2023 Board Decision Date: 23 Oct. 2023
Regarding: Apollo (Cyprus) Limited
Legislation: Τhe Prevention and Suppression of Money Laundering and Terrorist Financing Law, Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing
Subject: Total Fine €1,500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Dec. 2023 Board Decision Date: 23 Oct. 2023
Regarding: Enter Winglobe Management Ltd
Legislation: Τhe Prevention and Suppression of Money Laundering and Terrorist Financing Law, Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing
Subject: Total Fine €1,500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Dec. 2023 Board Decision Date: 23 Oct. 2023
Regarding: Egard Management Ltd
Legislation: Τhe Prevention and Suppression of Money Laundering and Terrorist Financing Law, Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing
Subject: Total Fine €4,000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 04 Dec. 2023 Board Decision Date: 11 Sep. 2023
Regarding: Pruden Ventures Capital Ltd (ex. Constance Investment Ltd)
Legislation: The Cyprus Securities and Exchange Commission Law
Subject: Total Fine €1.300
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2023 Board Decision Date: 27 Nov. 2023
Regarding: SAZKA Delta AIF Variable Capital Investment Company Ltd
Legislation: The Alternative Investment Fund Managers Law
Subject: Withdrawal of AIFM operation license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2023 Board Decision Date: 16 Oct. 2023
Regarding: Titanedge Securities Ltd
Legislation: Τhe Investment Services and Activities and Regulated Markets Law
Subject: Settlement €90.000
Judicial Review: YES () NO Judicial Review Ruling:
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