Cyprus Securities and Exchange Commission | BOARD DECISIONS
BOARD DECISIONS
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PUBLIC INFORMATION BOARD DECISIONS
BOARD DECISIONS
Announcement Date: 23 Jan. 2020 Board Decision Date: 13 Jan. 2020
Regarding: Ellinas Finance Public Company Limited
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: 22 Jan. 2020 Board Decision Date: 13 Jan. 2020
Regarding: Stocks Forex AF Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 14 Jan. 2020 Board Decision Date: 07 Oct. 2019
Regarding: PFX Financial Professionals Ltd
Legislation: The Investor Compensation Fund Directive
Subject: Initiation of the compensation payment process by the Investor Compensation Fund for Clients of IFs (I.C.F)
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 13 Jan. 2020 Board Decision Date: 16 Sep. 2019
Regarding: Solid Financial Services Limited
Legislation: The Cyprus Securities and Exchange Commission Law of 2009, EMIR Regulation (EU) no. 648/2012
Subject: Total fine €10.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 09 Jan. 2020 Board Decision Date: 09 Dec. 2019
Regarding: Aias Investment Public Ltd, Jupiter Portfolio Investments Public Company Ltd, Cyprus Trading Corporation Plc, Dodoni Portfolio Investments Public Company Ltd, Elma Holdings Public Company Ltd, Ermes Department Stores Plc, Woolworth (Cyprus) Properties Plc, Isxis Investment Public Ltd, Harvest Capital Management Public Ltd, Liberty Life Insurance Public Company Ltd, A.L. Prochoice Group Public Ltd and 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: 23 Dec. 2019 Board Decision Date: 16 Dec. 2019
Regarding: Management Company KMG Capital Markets Ltd
Legislation: The Open-Ended Undertakings for Collective Investment Law
Subject: Withdrawal of Management Company license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 23 Dec. 2019 Board Decision Date: 23 Dec. 2019
Regarding: DAWEDA EXCHANGE LIMITED
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Dec. 2019 Board Decision Date: 16 Dec. 2019
Regarding: Invalt Variable Capital Investment Company Ltd
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of AIFLNP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Dec. 2019 Board Decision Date: 09 Dec. 2019
Regarding: NTFX Capital 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: 20 Dec. 2019 Board Decision Date: 09 Dec. 2019
Regarding: Amathus Public Limited
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: 17 Dec. 2019 Board Decision Date: 09 Dec. 2019
Regarding: Ch. Charilaou Group Plc
Legislation: The Takeover Bids Law
Subject: Extension for the acquisition of shares following the granting of an exception to submit a mandatory takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 17 Dec. 2019 Board Decision Date: 09 Dec. 2019
Regarding: P.C.M. Advisers Limited
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 13 Dec. 2019 Board Decision Date: 09 Dec. 2019
Regarding: VC Larix AIFLNP LP
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of AIFLNP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Dec. 2019 Board Decision Date: 25 Nov. 2019
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: 25 Nov. 2019 Board Decision Date: 22 Nov. 2019
Regarding: ITS Interactive Trust Services Cyprus Ltd (ex. Lewben Cyprus Limited)
Legislation: The Regulating Companies Providing Administrative Services and Related Matters Law
Subject: Suspension of ASP licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 25 Nov. 2019 Board Decision Date: 18 Nov. 2019
Regarding: Lykke Cyprus 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: 22 Nov. 2019 Board Decision Date: 18 Nov. 2019
Regarding: UCP Asset Management Limited
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Nov. 2019 Board Decision Date: 08 Nov. 2019
Regarding: AMFF 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: 19 Nov. 2019 Board Decision Date: 18 Nov. 2019
Regarding: Centralspot Trading Limited
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Recall of suspension of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 14 Nov. 2019 Board Decision Date: 08 Nov. 2019
Regarding: Fidelisco Capital Markets 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 Nov. 2019 Board Decision Date: 07 Nov. 2019
Regarding: Centralspot Trading Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 05 Nov. 2019 Board Decision Date: 27 May. 2019
Regarding: Blaustein Corporate Services Ltd
Legislation: Law Regulating Companies Providing Administrative Services and Related Matters
Subject: Withdrawal of an ASP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 04 Nov. 2019 Board Decision Date: 07 Oct. 2019
Regarding: IGM Forex Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Recall of suspension of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 03 Oct. 2019 Board Decision Date: 22 Jul. 2019
Regarding: Ch. Charilaou Group Plc, Karyes Investment Public Company Ltd and Agroton Public Ltd
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fines
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 30 Sep. 2019 Board Decision Date: 09 Sep. 2019
Regarding: AGENTRISK EUROPE LIMITED
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Sep. 2019 Board Decision Date: 09 Sep. 2019
Regarding: FXNET Ltd
Legislation: Ο περί Επενδυτικών Υπηρεσιών και Δραστηριοτήτων και Ρυθμιζόμενων Αγορών Νόμος
Subject: Συμβιβασμός €60.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 24 Sep. 2019 Board Decision Date: 24 Sep. 2019
Regarding: MPS Marketplace Securities Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 23 Sep. 2019 Board Decision Date: 16 Sep. 2019
Regarding: Argo Capital Management (Cyprus) 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: 20 Sep. 2019 Board Decision Date: 09 Sep. 2019
Regarding: LT Hamilton Limited
Legislation: Law Regulating Companies Providing Administrative Services and Related Matters
Subject: Suspension and commencement of proceedings for the possible withdrawal of an ASP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Sep. 2019 Board Decision Date: 09 Sep. 2019
Regarding: Quantelion Fund Ltd
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of AIFLNP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Sep. 2019 Board Decision Date: 09 Sep. 2019
Regarding: MESSINA FUND VCIC LTD
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of AIFLNP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 17 Sep. 2019 Board Decision Date: 09 Sep. 2019
Regarding: Postscriptum Capital 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: 04 Sep. 2019 Board Decision Date: 23 Aug. 2019
Regarding: Horizon Investment Fund Ltd
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of AIFLNP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 28 Aug. 2019 Board Decision Date: 06 Aug. 2019
Regarding: KIT Finance Brokers 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: 28 Aug. 2019 Board Decision Date: 23 Aug. 2019
Regarding: Cosmos Insurance Public Company Limited
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: 20 Aug. 2019 Board Decision Date: 06 Aug. 2019
Regarding: Louis Plc
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 14 Aug. 2019 Board Decision Date: 18 Mar. 2019
Regarding: Banc De Binary Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, DI 144-2007-01, DI 144-2007-02
Subject: Settlement €300.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Aug. 2019 Board Decision Date: 06 Aug. 2019
Regarding: IOKE Capital Fund Ltd
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of AIFLNP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Aug. 2019 Board Decision Date: 06 Aug. 2019
Regarding: Kylin Prime Asset Management
Legislation: The Alternative Investment Fund Managers Law
Subject: Withdrawal of AIFM authorization
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Aug. 2019 Board Decision Date: 22 Jul. 2019
Regarding: S.L. Capital 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: 07 Aug. 2019 Board Decision Date: 24 Jun. 2019
Regarding: Spot Capital Markets 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: 07 Aug. 2019 Board Decision Date: 22 Jul. 2019
Regarding: DFG Capital (Cyprus) 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: 07 Aug. 2019 Board Decision Date: 29 Jul. 2019
Regarding: Globesco Capital 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: 07 Aug. 2019 Board Decision Date: 22 Jul. 2019
Regarding: Planetvision Investment Fund Ltd
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal AIFLNP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Aug. 2019 Board Decision Date: 22 Jul. 2019
Regarding: Kylinprime Investment Fund Ltd
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal AIFLNP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Aug. 2019 Board Decision Date: 22 Jul. 2019
Regarding: WS Cryptocapital Fund Ltd
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal AIFLNP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Aug. 2019 Board Decision Date: 22 Jul. 2019
Regarding: Taurus Aurum Global Property Fund Ltd
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal AIFLNP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 06 Aug. 2019 Board Decision Date: 22 Jul. 2019
Regarding: ΚEO 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: 06 Aug. 2019 Board Decision Date: 22 Jul. 2019
Regarding: Ch. Charilaou Group 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: 01 Aug. 2019 Board Decision Date: 24 Jun. 2019
Regarding: Bluehouse Investment Advisors Ltd
Legislation: The Alternative Investment Fund Managers Law
Subject: Re-examination
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Jul. 2019 Board Decision Date: 19 Jul. 2019
Regarding: AFX Capital Markets Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 04 Jun. 2019 Board Decision Date: 27 May. 2019
Regarding: Dobro Cyprus Capital Fund Limited
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of license AIFLNP
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 31 May. 2019 Board Decision Date: 27 May. 2019
Regarding: Pandora Investments Public Ltd
Legislation: The Takeover Bids Law
Subject: Extension for the acquisition of shares following the granting of an exception to submit a mandatory takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 31 May. 2019 Board Decision Date: 27 May. 2019
Regarding: Leptos Calypso Hotels Public Ltd
Legislation: The Takeover Bids Law
Subject: Extension for the acquisition of shares following the granting of an exception to submit a mandatory takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 28 May. 2019 Board Decision Date: 04 Mar. 2019
Regarding: SeaBird Exploration Plc
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: 28 May. 2019 Board Decision Date: 04 Mar. 2019
Regarding: CPI Holdings 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: 28 May. 2019 Board Decision Date: 04 Mar. 2019
Regarding: A.L Prochoice Group 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: 28 May. 2019 Board Decision Date: 04 Mar. 2019
Regarding: Regallia Holdings & Investments Public Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €1.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 28 May. 2019 Board Decision Date: 04 Mar. 2019
Regarding: Ch. Charilaou Group Plc
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €1.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 28 May. 2019 Board Decision Date: 04 Mar. 2019
Regarding: Rolandos Enterprises 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: 21 May. 2019 Board Decision Date: 15 Apr. 2019
Regarding: IQ Option Europe Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, The Prevention and Suppression of Money Laundering Activities Law
Subject: Settlement €450.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 03 May. 2019 Board Decision Date: 02 Apr. 2019
Regarding: Goldenburg Group Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law of 2007, Directive DI 144-2007-02 of 2012
Subject: Fine €170.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 23 Apr. 2019 Board Decision Date: 18 Feb. 2019
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: 03 Apr. 2019 Board Decision Date: 18 Feb. 2019
Regarding: AFI Development 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: 27 Mar. 2019 Board Decision Date: 04 Mar. 2019
Regarding: Hoch Capital Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Settlement €200.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Mar. 2019 Board Decision Date: 04 Mar. 2019
Regarding: Atlas Capital Financial Services Ltd
Legislation: The Investor Compensation Fund Directive
Subject: Initiation of the compensation payment process by the Investor Compensation Fund for Clients of IFs (I.C.F)
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 14 Mar. 2019 Board Decision Date: 04 Mar. 2019
Regarding: DFG Meze Model Ltd
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 14 Mar. 2019 Board Decision Date: 04 Mar. 2019
Regarding: ColmexPro Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Settlement €50.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Mar. 2019 Board Decision Date: 04 Mar. 2019
Regarding: GS Sharestocks 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: 14 Feb. 2019 Board Decision Date: 28 Jan. 2019
Regarding: Fenix Capital Markets Trading Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Recall of suspension of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 14 Feb. 2019 Board Decision Date: 11 Feb. 2019
Regarding: Centaur 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: 17 Jan. 2019 Board Decision Date: 22 Oct. 2018
Regarding: PFX Financial Professionals Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 15 Jan. 2019 Board Decision Date: 07 Jan. 2019
Regarding: Cosmos Insurance Public Company Limited (in Greek)
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: 21 Dec. 2018 Board Decision Date: 10 Dec. 2018
Regarding: Closegate Investment Ltd
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Dec. 2018 Board Decision Date: 10 Sep. 2018
Regarding: Mr. Christakis Christodoulou (Director)
Legislation: The Insider Dealing and Market Manipulation (Market Abuse) Law
Subject: Total fine €5.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Dec. 2018 Board Decision Date: 10 Sep. 2018
Regarding: Cyprint Plc
Legislation: The Insider Dealing and Market Manipulation (Market Abuse) Law
Subject: Total fine €10.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 26 Nov. 2018 Board Decision Date:
Regarding: Ch. Charilaou Group Plc (in Greek)
Legislation: The Takeover Bids Law
Subject: Extension for the disposal of shares following the granting of an exception to submit a mandatory takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 23 Nov. 2018 Board Decision Date: 23 Nov. 2018
Regarding: GIF Capital Ltd
Legislation: The Regulating Companies Providing Administrative Services and Related Matters Law
Subject: Suspension of ASP licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Nov. 2018 Board Decision Date: 20 Nov. 2018
Regarding: PCM Advisers LTD
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 14 Nov. 2018 Board Decision Date: 05 Nov. 2018
Regarding: Qino Management Advisory 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: 14 Nov. 2018 Board Decision Date: 14 Nov. 2018
Regarding: Fenix Capital Markets Trading Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 01 Nov. 2018 Board Decision Date: 29 Oct. 2018
Regarding: Capital Index (Cyprus) Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 25 Oct. 2018 Board Decision Date: 22 Oct. 2018
Regarding: Etalon Group Plc
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Oct. 2018 Board Decision Date: 15 Oct. 2018
Regarding: HMS Hydraulic Machines & Systems Group Plc (in Greek)
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: 19 Oct. 2018 Board Decision Date: 03 Sep. 2018
Regarding: Mrs Milena Valentinova Christofide
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Fine €10.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 18 Oct. 2018 Board Decision Date: 02 Oct. 2018
Regarding: Jupiter Portfolio Investments Public Company Ltd (in Greek)
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 18 Oct. 2018 Board Decision Date: 02 Oct. 2018
Regarding: A. Tsokkos Hotels Public Ltd (in Greek)
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 03 Oct. 2018 Board Decision Date: 03 Sep. 2018
Regarding: Mr Christo Filaktou (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Re-examination
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 28 Sep. 2018 Board Decision Date: 17 Sep. 2018
Regarding: AFX Capital Markets Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Settlement €50.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 13 Sep. 2018 Board Decision Date: 03 Mar. 2018
Regarding: Ouroboros Derivatives Trading 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: 13 Sep. 2018 Board Decision Date: 10 Sep. 2018
Regarding: Gobaba FX Cy 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: 04 Sep. 2018 Board Decision Date: 02 Jul. 2018
Regarding: LQD Markets Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Fine €50.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Aug. 2018 Board Decision Date: 23 Jul. 2018
Regarding: Coverdeal Holdings Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Settlement €250.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 02 Aug. 2018 Board Decision Date: 11 Jun. 2018
Regarding: Instant Trading EU Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI144-2007-02 of 2012
Subject: Total Fine €130.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 25 Jul. 2018 Board Decision Date: 13 Nov. 2017
Regarding: Mr. Ioannis Vardinoyiannis (in Greek)
Legislation: 1. The Insider Dealing and Market Manipulation (Market Abuse) Law (L.116(I)/2005). 2. The Cyprus Securities and Exchange Commission Law (L.73(Ι)/2009).
Subject: Imposition of administrative fines
Judicial Review: YES (03 Oct. 2018) NO Judicial Review Ruling: YES YES
Announcement Date: 25 Jul. 2018 Board Decision Date: 13 Nov. 2017
Regarding: Mrs Amalia Vardinoyiannis (in Greek)
Legislation: 1. The Insider Dealing and Market Manipulation (Market Abuse) Law (L.116(I)/2005). 2. The Cyprus Securities and Exchange Commission Law (L.73(Ι)/2009).
Subject: Imposition of administrative fines
Judicial Review: YES (03 Oct. 2018) NO Judicial Review Ruling: YES YES
Announcement Date: 25 Jul. 2018 Board Decision Date: 13 Nov. 2017
Regarding: Mr. Christodoulos Ellinas (in Greek)
Legislation: 1. The Insider Dealing and Market Manipulation (Market Abuse) Law (L.116(I)/2005). 2. The Cyprus Securities and Exchange Commission Law (L.73(Ι)/2009).
Subject: Imposition of administrative fines
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 25 Jul. 2018 Board Decision Date: 13 Nov. 2017
Regarding: Mr. Philippos Larkos (in Greek)
Legislation: 1. The Insider Dealing and Market Manipulation (Market Abuse) Law (L.116(I)/2005). 2. The Cyprus Securities and Exchange Commission Law (L.73(Ι)/2009).
Subject: Imposition of administrative fines
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Jul. 2018 Board Decision Date: 20 Jul. 2018
Regarding: IGM FOREX LTD
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 03 Jul. 2018 Board Decision Date: 25 Jun. 2018
Regarding: B.O. Tradefinancials Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 29 Jun. 2018 Board Decision Date: 25 Jun. 2018
Regarding: Blackwell Global Investments (Cyprus) Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Jun. 2018 Board Decision Date: 05 Mar. 2018
Regarding: Karkotis Manufacturing & Trading Public Ltd
Legislation: The Cyprus Securities and Cyprus Stock Exchange Law
Subject: Fine €50.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Jun. 2018 Board Decision Date: 04 Jun. 2018
Regarding: Agroton Public Ltd
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €2.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Jun. 2018 Board Decision Date: 04 Jun. 2018
Regarding: SFS Group Public Ltd
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €4.400
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Jun. 2018 Board Decision Date: 04 Dec. 2017
Regarding: Iron FX Global Ltd (τώρα Notesco Financial Services Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Fine €2.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Jun. 2018 Board Decision Date: 04 Jun. 2018
Regarding: Investment Compartment Deltamax European Property Fund and Investment Compartment Deltamax Value Fund, of the AIF Deltamax Fund Variable Capital Investment Company Limited
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of Investment Compartments license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Jun. 2018 Board Decision Date: 30 Apr. 2018
Regarding: Management Company Ankor Capital Ltd
Legislation: The Open-Ended Undertakings for Collective Investment Law
Subject: Withdrawal of Management Company license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Jun. 2018 Board Decision Date: 30 Apr. 2018
Regarding: UCITS ACY Global Prosperity Umbrella Fund UCITS Variable Capital Investment Company Ltd
Legislation: The Open-Ended Undertakings for Collective Investment Law
Subject: Withdrawal of UCITS license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Jun. 2018 Board Decision Date: 04 Jun. 2018
Regarding: Mr Marios Antoniades (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Re-examination
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 25 May. 2018 Board Decision Date: 23 Apr. 2018
Regarding: Standville Limited
Legislation: Law Regulating Companies Providing Administrative Services and Related Matters, Directive DI 144-2007-08
Subject: Withdrawal of an ASP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 May. 2018 Board Decision Date: 07 May. 2018
Regarding: Leptos Calypso Hotels Public Ltd (available in Greek language)
Legislation: The Takeover Bids Law
Subject: Extension for the acquisition of shares following the granting of an exception to submit a mandatory takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 May. 2018 Board Decision Date: 07 May. 2018
Regarding: Pandora Investments Public Ltd (available in Greek language)
Legislation: The Takeover Bids Law
Subject: Extension for the acquisition of shares following the granting of an exception to submit a mandatory takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 May. 2018 Board Decision Date: 23 Apr. 2018
Regarding: Cosmos Insurance Company 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: 08 May. 2018 Board Decision Date: 30 Apr. 2018
Regarding: Ingard Property Bond Designated Activity Company, Pierides Holdings Plc
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of trading of issuer shares
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Apr. 2018 Board Decision Date: 20 Nov. 2017
Regarding: Mr. Amr Jamal Mohamed Hendawi (CommexFX Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Re-examination
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 26 Apr. 2018 Board Decision Date: 26 Mar. 2017
Regarding: Salamis Tours (Holdings) Public Limited
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Administrative measure
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 25 Sep. 2017
Regarding: Louis Plc
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 2.800
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 25 Sep. 2017
Regarding: KDM Shipping Public Limited
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: 12 Apr. 2018 Board Decision Date: 25 Sep. 2017
Regarding: Agroton Public Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 1.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 11 Dec. 2017
Regarding: Renos Hatzioannou Farm Public Company Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total Fine € 6.250
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 11 Dec. 2017
Regarding: Modestou Sound & Vision Public Company Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total Fine € 6.250
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 11 Dec. 2017
Regarding: Karyes Investment Public Company Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 3.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 11 Dec. 2017
Regarding: KDM Shipping Public Limited
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 2.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mr. Simos Kiriakides (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Violation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mrs Eve Makariou (CFO of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €30.000
Judicial Review: YES (15 Jun. 2018) NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mr. Polis Kourousides (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €20.000
Judicial Review: YES (19 Jun. 2018) NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mr. Christos Filaktou (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €20.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mr. Giorgos Hadjimichael (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €20.000
Judicial Review: YES (15 Jun. 2018) NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mr. Marios Antoniades (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €40.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mr. Christos Orphanides (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €120.000
Judicial Review: YES (02 May. 2018) NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Orphanides Public Company Ltd
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law, The Insider Dealing and Market Manipulation (Market Abuse) Law
Subject: Violation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 04 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: LeadCapital Markets Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Fine €30.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 30 Mar. 2018 Board Decision Date: 26 Mar. 2018
Regarding: Renos Hadjioannou Farm Public Company Ltd
Legislation: The Investment Services and Activities and Regulated Markets
Subject: Suspension of trading of issuer shares
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Mar. 2018 Board Decision Date: 12 Mar. 2018
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: 12 Mar. 2018 Board Decision Date: 15 Jan. 2018
Regarding: Standville Limited
Legislation: Law Regulating Companies Providing Administrative Services and Related Matters, Directive DI144-2007-08
Subject: Suspension and commencement of proceedings for the possible withdrawal of an ASP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 09 Mar. 2018 Board Decision Date: 05 Mar. 2018
Regarding: Songa Offshore SE
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Feb. 2018 Board Decision Date: 12 Feb. 2018
Regarding: Boursotrade Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of suspension of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Feb. 2018 Board Decision Date: 13 Nov. 2017
Regarding: ICFD Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI 144-2007-01 of 2012, Directive DI 144-2007-02 of 2012
Subject: Fine €138.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 09 Feb. 2018 Board Decision Date: 20 Nov. 2017
Regarding: Chesterfield Corporate Services Ltd
Legislation: The Prevention and Suppression of Money Laundering and Terrorist Financing Law, Directive DI 144-2007-08 of 2012
Subject: Fine €20.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 06 Feb. 2018 Board Decision Date: 20 Nov. 2017
Regarding: Hoch Capital Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI 144-2007-02 of 2012
Subject: Fine €30.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 05 Feb. 2018 Board Decision Date: 25 Sep. 2017
Regarding: Best Choice FBC Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Jan. 2018 Board Decision Date: 20 Nov. 2017
Regarding: Spot Capital Markets Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI 144-2007-02 of 2012
Subject: Fine €50.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Jan. 2018 Board Decision Date: 13 Nov. 2017
Regarding: Mr. Pavel Krymov (Shareholder of Skopalino Finance Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Fine €10.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Dec. 2017 Board Decision Date: 23 Oct. 2017
Regarding: Reliantco Investments Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, DI144-2007-01 of 2012, DI144-2007-02 of 2012
Subject: Fine €95.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 18 Dec. 2017 Board Decision Date: 11 Dec. 2017
Regarding: Modestou Sound & Vision Public Company Ltd, Renos Xatzioannou Farm Public Ltd (in Greek)
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of trading of issuer shares
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 15 Dec. 2017 Board Decision Date: 13 Nov. 2017
Regarding: Centralspot Trading Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, DI144-2007-01 of 2012, DI144-2007-02 of 2012
Subject: Fine €50.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Dec. 2017 Board Decision Date: 25 Sep. 2017
Regarding: Asoted Services Ltd
Legislation: The Prevention and Suppression of Money Laundering and Terrorist Financing Law, Directive DI 144-2007-08 of 2012
Subject: Fine €16.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Dec. 2017 Board Decision Date: 04 Dec. 2017
Regarding: Ch. Charilaou Group Plc (in Greek)
Legislation: The Takeover Bids Law
Subject: Extension for the disposal of shares following the granting of an exception to submit a mandatory takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Bank of Cyprus Public Company Ltd
Legislation: Τhe Insider Dealing and Market Manipulation (Market Abuse) Law, the Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 15.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Mr. Theodoros Aristodemou (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 100.000
Judicial Review: YES (08 Feb. 2018) NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Mr. Andreas Eliades (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 100.000
Judicial Review: YES (05 Feb. 2018) NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Mr. Yiannis Pechlivanides (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 70.000
Judicial Review: YES (07 Feb. 2018) NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Mr. Yiannis Kipri (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 70.000
Judicial Review: YES (09 Feb. 2018) NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Mr. Stavros Constantinides (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 50.000
Judicial Review: YES (08 Feb. 2018) NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Mr. Costas Severis (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 30.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Mr. Georgios Georgiades (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 30.000
Judicial Review: YES (08 Feb. 2018) NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Mrs. Irini Karamanou (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 30.000
Judicial Review: YES (08 Feb. 2018) NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Mr. Manthos Mavrommatis (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €30.000
Judicial Review: YES (08 Feb. 2018) NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Mr. Christis Hadjimitsis (General Manager Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 70.000
Judicial Review: YES (09 Feb. 2018) NO Judicial Review Ruling:
Announcement Date: 30 Nov. 2017 Board Decision Date: 27 Nov. 2017
Regarding: Concorde Investments (Cyprus) Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of suspension of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Nov. 2017 Board Decision Date: 03 Nov. 2017
Regarding: A&P (Andreou & Paraskevaides) Enterprises Public Limited (in Greek)
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 26 Oct. 2017 Board Decision Date: 23 Oct. 2017
Regarding: Jupiter Portfolio Investments Public Company Ltd (in Greek)
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Oct. 2017 Board Decision Date: 06 Feb. 2017
Regarding: Mr. Michel Pierre Salomon Teman (Director of Pegase Capital Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI144-2007-01 of 2012
Subject: Fine €150.000/prohibition in the exercise of professional activity
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Oct. 2017 Board Decision Date: 06 Feb. 2017
Regarding: Mr. Pantelis Ioakim (Director of Pegase Capital Ltd)
Legislation: Directive DI144-2007-01 of 2012
Subject: Fine €25.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Oct. 2017 Board Decision Date: 06 Feb. 2017
Regarding: Mr. Giorgos Miltiadous (Director of Pegase Capital Ltd)
Legislation: Directive DI144-2007-01 of 2012
Subject: Fine €25.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Oct. 2017 Board Decision Date: 06 Feb. 2017
Regarding: Mrs Alexandra Aspri (Director of Pegase Capital Ltd)
Legislation: Directive DI144-2007-01 of 2012
Subject: Violation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Oct. 2017 Board Decision Date: 06 Feb. 2017
Regarding: Mr. Stavros Petrakides (Director of Pegase Capital Ltd)
Legislation: Directive DI144-2007-01 of 2012
Subject: Violation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 16 Oct. 2017 Board Decision Date: 02 Oct. 2017
Regarding: Gametech (Cyprus) Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of suspension of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Oct. 2017 Board Decision Date: 02 Oct. 2017
Regarding: OptionRally Financial Services Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of suspension of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 11 Oct. 2017 Board Decision Date: 25 Sep. 2017
Regarding: Concorde Investments (Cyprus) Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 11 Oct. 2017 Board Decision Date: 02 Oct. 2017
Regarding: Ros Agro Plc (available in Greek language)
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 11 Oct. 2017 Board Decision Date: 02 Oct. 2017
Regarding: Cosmos Insurance Company Public Ltd (available in Greek language)
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 28 Jul. 2017 Board Decision Date: 26 Jun. 2017
Regarding: Mr. Charalambos Kiritsis (Director of UBFS Invest powered by Moneychoice Brokers Ltd)
Legislation: Directive DI144-2007-01 of 2012
Subject: Fine €10.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Jul. 2017 Board Decision Date: 06 Feb. 2017
Regarding: Mr. Emmanuel Ayoun
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Fine €10.000/ prohibition in exercising professional activity
Judicial Review: YES (15 May. 2017) NO Judicial Review Ruling: Pending Pending
Announcement Date: 27 Jul. 2017 Board Decision Date: 24 Jul. 2017
Regarding: Amathus Public Limited (available in Greek language)
Legislation: Exception from a mandatory obligation to submit a takeover bid
Subject: Exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Jul. 2017 Board Decision Date: 17 Jul. 2017
Regarding: Mr. Amr Jamal Mohamed Hendawi (CommexFX Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Revocation of administrative sanctions
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 13 Jul. 2017 Board Decision Date: 13 Jul. 2017
Regarding: OptionRally Financial Services Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Jul. 2017 Board Decision Date: 27 Mar. 2017
Regarding: Mr. Marwan El Daouk (Director of Falcon Brokers Ltd)
Legislation: Directive DI144-2007-01 of 2012
Subject: Fine €25.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Jul. 2017 Board Decision Date: 27 Mar. 2017
Regarding: Mr. Wael Ata Elayyan Jaber (Director of Falcon Brokers Ltd)
Legislation: Directive DI144-2007-01 of 2012
Subject: Fine €10.000/prohibition in the exercise of professional activity
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Jul. 2017 Board Decision Date: 27 Mar. 2017
Regarding: Mr. Khalid Ahmad Emran Abdo (Director of Falcon Brokers Ltd)
Legislation: Directive DI144-2007-01 of 2012
Subject: Fine €10.000/prohibition in the exercise of professional activity
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Jul. 2017 Board Decision Date: 27 Mar. 2017
Regarding: Mr. Mohammed Yahya Amin Al Ansari (Director of Falcon Brokers Ltd)
Legislation: Directive DI144-2007-01 of 2012
Subject: Fine €150.000/prohibition in the exercise of professional activity
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 04 Jul. 2017 Board Decision Date: 19 Jun. 2017
Regarding: Lionsman Capital Markets (Cyprus) Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI 144-2007-01 of 2012, Directive DI 144-2007-02 of 2012
Subject: Settlement €90.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 29 Jun. 2017 Board Decision Date:
Regarding: Sea Star Capital Plc (available in Greek language)
Legislation: The Investment Services and Activities and Regulated Markets
Subject: Suspension of trading of issuer shares
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 26 Jun. 2017 Board Decision Date: 19 Jun. 2017
Regarding: Xtrade Europe Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Termination of suspension of CIF license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Fadel Al Ali (Director Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Violation/Caution
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Hesham Al Quassin (Director Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Violation/Caution
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Vasilios Theocharakis (Director Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Violation/Caution
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Andreas Vgenopoulos (Director Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Violation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Stelios Stylianou (Director Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Violation/Caution
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Platonas Lanitis (Director Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Violation/Caution
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Abdulrazaq Al Jassim (Director Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Violation/Caution
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mrs Annita Philippidou (CFO Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 80.000
Judicial Review: YES (04 Aug. 2017) NO Judicial Review Ruling: Pending Pending
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Constantinos Mylonas (Director Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 100.000
Judicial Review: YES (11 Aug. 2017) NO Judicial Review Ruling: Pending Pending
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Markos Foros (Director Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 120.000
Judicial Review: YES (01 Sep. 2017) NO Judicial Review Ruling: Pending Pending
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Eleftherios Chiliadakis (Director Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 140.000
Judicial Review: YES (01 Sep. 2017) NO Judicial Review Ruling: Pending Pending
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Panayiotis Kounnis (Director Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 140.000
Judicial Review: YES (01 Sep. 2017) NO Judicial Review Ruling: Pending Pending
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Christos Stylianides (Director Cyprus Popular Bank Public Co Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 200.000
Judicial Review: YES (01 Sep. 2017) NO Judicial Review Ruling: Pending Pending
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Neoklis Lysandrou (Director Cyprus Popular Bank Public Co Ltd )
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 160.000
Judicial Review: YES (11 Aug. 2017) NO Judicial Review Ruling: Pending Pending
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Mr. Efthimios Mbouloutas (Director Cyprus Popular Bank Public Co Ltd )
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 200.000
Judicial Review: YES (01 Sep. 2017) NO Judicial Review Ruling: Pending Pending
Announcement Date: 22 Jun. 2017 Board Decision Date: 08 May. 2017
Regarding: Cyprus Popular Bank Public Co Ltd
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law, The Insider Dealing and Market Manipulation (Market Abuse) Law
Subject: Violation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Jun. 2017 Board Decision Date: 07 Jun. 2017
Regarding: Pandora Investments Public Ltd (available in Greek language)
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: 19 Jun. 2017 Board Decision Date: 07 Jun. 2017
Regarding: Leptos Calypso Hotels Public Ltd (available in Greek language)
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: 08 Jun. 2017 Board Decision Date: 13 Feb. 2017
Regarding: Mr Savvas Rigas (Internal auditor/relevant person of CommexFX Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI144-2007-01 of 2012
Subject: Total fine € 20.000
Judicial Review: YES (09 Aug. 2017) NO Judicial Review Ruling: Pending Pending
Announcement Date: 08 Jun. 2017 Board Decision Date: 13 Feb. 2017
Regarding: Mr Stavros Hadjikyriacou (Director of CommexFX Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI144-2007-01 of 2012
Subject: Total fine € 45.000
Judicial Review: YES (07 Jul. 2017) NO Judicial Review Ruling: Pending Pending
Announcement Date: 08 Jun. 2017 Board Decision Date: 13 Feb. 2017
Regarding: Mr Mohab Mohamed Taghian Radwn (relevant person to CommexFX Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI144-2007-01 of 2012
Subject: Fine € 50.000/prohibition in the exercise of professional activity
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Jun. 2017 Board Decision Date: 13 Feb. 2017
Regarding: Mr AbdeI Rahman Alimari (Shareholder of CommexFX Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI144-2007-01 of 2012
Subject: Total fine € 200.000/prohibition in the exercise of professional activity
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Jun. 2017 Board Decision Date: 13 Feb. 2017
Regarding: Mr Vladimiros Germanos (Chief Financial Officer of CommexFX Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI144-2007-01 of 2012
Subject: Total fine € 20.000
Judicial Review: YES (27 Jul. 2017) NO Judicial Review Ruling: Pending Pending
Announcement Date: 08 Jun. 2017 Board Decision Date: 13 Feb. 2017
Regarding: Mr Anastasios Yiapanis (Director of CommexFX Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI144-2007-01 of 2012
Subject: Fine € 15.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 30 May. 2017 Board Decision Date: 29 May. 2017
Regarding: Xtrade Europe Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Partial suspension of CIF license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 04 May. 2017 Board Decision Date: 13 Feb. 2017
Regarding: CommexFX Ltd
Legislation: Directive DI144-2007-15 of 2015 – The Investor Compensation Fund Directive
Subject: Initiation of the compensation payment process by the Investor Compensation Fund for Clients of IFs (I.C.F)
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 24 Apr. 2017 Board Decision Date: 13 Mar. 2017
Regarding: UR Trade Fix Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Fine €20.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Apr. 2017 Board Decision Date: 10 Apr. 2017
Regarding: Ros Agro Plc (In Greek)
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 Apr. 2017 Board Decision Date: 25 Jul. 2016
Regarding: CommexFx Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 04 Apr. 2017 Board Decision Date: 27 Mar. 2017
Regarding: C.C.C. Tourist Enterprises Public Company Ltd (available in Greek language)
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: 04 Apr. 2017 Board Decision Date: 03 Apr. 2017
Regarding: Dragon Options Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of suspension of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 03 Apr. 2017 Board Decision Date: 03 Apr. 2017
Regarding: TTCM Traders Trust Capital Markets Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of suspension of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 03 Apr. 2017 Board Decision Date: 03 Apr. 2017
Regarding: Leadtrade Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of suspension of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 31 Mar. 2017 Board Decision Date: 13 Mar. 2017
Regarding: Leadtrade Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 31 Mar. 2017 Board Decision Date: 13 Mar. 2017
Regarding: TTCM Traders Trust Capital Markets Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 31 Mar. 2017 Board Decision Date: 13 Mar. 2017
Regarding: Gametech (Cyprus) Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 31 Mar. 2017 Board Decision Date: 13 Mar. 2017
Regarding: Dragon Options Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 31 Mar. 2017 Board Decision Date: 27 Mar. 2017
Regarding: Sea Star Capital Plc
Legislation: The Investment Services and Activities and Regulated Markets
Subject: Suspension of trading of issuer shares
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 17 Mar. 2017 Board Decision Date: 17 Mar. 2017
Regarding: Boursotrade Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 15 Mar. 2017 Board Decision Date: 13 Feb. 2017
Regarding: Atlas Capital Financial Services Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, DI144-2007-01 of 2012
Subject: Withdrawal of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Mar. 2017 Board Decision Date: 30 Jan. 2017
Regarding: Novox Capital Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Fine €5.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 23 Feb. 2017 Board Decision Date: 23 Jan. 2017
Regarding: PriorFX Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, DI144-2007-01 of 2012, DI144-2007-02 of 2012
Subject: Total fine €63.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Feb. 2017 Board Decision Date: 13 Feb. 2017
Regarding: Avangardco Investments Public Ltd (in Greek)
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: 15 Feb. 2017 Board Decision Date: 05 Dec. 2016
Regarding: Novox Capital Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, DI144-2007-01 of 2012, DI144-2007-02 of 2012
Subject: Total fine €175.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Feb. 2017 Board Decision Date: 19 Dec. 2016
Regarding: Fortified Capital Ltd
Legislation: Alternative Investment Funds Law
Subject: Fine €5.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 23 Jan. 2017 Board Decision Date: 19 Dec. 2016
Regarding: Bdswiss Holding Plc
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI 144-2007-01 of 2012, Directive DI 144-2007-02 of 2012
Subject: Settlement €150.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 16 Jan. 2017 Board Decision Date: 05 Dec. 2016
Regarding: Louis Plc (in Greek)
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 12.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 16 Jan. 2017 Board Decision Date: 05 Dec. 2016
Regarding: Cyprint Plc (in Greek)
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 13.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 16 Jan. 2017 Board Decision Date: 05 Dec. 2016
Regarding: Charilaos Apostolides Public Ltd (in Greek)
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 13.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 13 Jan. 2017 Board Decision Date: 19 Dec. 2016
Regarding: IQ Option Europe Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Revocation of decision for non-compliance with section 38 of the Law and for the imposition of an administrative fine of €20,000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 13 Jan. 2017 Board Decision Date: 05 Dec. 2016
Regarding: Agroton Public Ltd (available in Greek)
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 1.250
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 13 Jan. 2017 Board Decision Date: 05 Dec. 2016
Regarding: Karyes Investment Public Company Ltd (available in Greek)
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 1.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 13 Jan. 2017 Board Decision Date: 05 Dec. 2016
Regarding: L.P. Transbeton Public Ltd (available in Greek)
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 13.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 11 Jan. 2017 Board Decision Date: 23 Dec. 2016
Regarding: Dome Investments Public Company 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: 10 Jan. 2017 Board Decision Date: 05 Dec. 2016
Regarding: Mutual Trust Ltd
Legislation: The Law Regulating Companies Providing Administrative Services and Related Matters
Subject: Fine €15.000
Judicial Review: YES (15 Mar. 2017) NO Judicial Review Ruling: Withdrawn by Mutual Trust Ltd Withdrawn by Mutual Trust Ltd
Announcement Date: 27 Dec. 2016 Board Decision Date: 28 Nov. 2016
Regarding: Colmex Pro Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, DI144-2007-01 of 2012, DI144-2007-02 of 2012
Subject: Fine €100.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Dec. 2016 Board Decision Date: 19 Dec. 2016
Regarding: Jupiter Portfolio Investments Public Company 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: 20 Dec. 2016 Board Decision Date: 28 Nov. 2016
Regarding: Best Choice FBC Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Continuance of suspension and commencement of proceedings for the possible withdrawal of a CIF license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Dec. 2016 Board Decision Date: 12 Dec. 2016
Regarding: Blaustein Corporate Services Ltd
Legislation: Law Regulating Companies Providing Administrative Services and Related Matters
Subject: Suspension and commencement of proceedings for the possible withdrawal of an ASP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Dec. 2016 Board Decision Date: 05 Dec. 2016
Regarding: Louis Plc (available in Greek language)
Legislation: The Investment Services and Activities and Regulated Markets
Subject: Suspension of trading
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 14 Dec. 2016 Board Decision Date: 28 Nov. 2016
Regarding: Globaltrans Investment PLC (available in Greek)
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 Dec. 2016 Board Decision Date: 28 Nov. 2016
Regarding: UBFS Invest powered by Moneychoice Brokers Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, Regulation 575/2016
Subject: Withdrawal of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Dec. 2016 Board Decision Date: 28 Nov. 2016
Regarding: Atlantic Insurance Company 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: 01 Dec. 2016 Board Decision Date: 21 Nov. 2016
Regarding: Ch. Charilaou Group Plc
Legislation: The Takeover Bids Law
Subject: Extension for the disposal of shares following the granting of an exception to submit a mandatory takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 24 Nov. 2016 Board Decision Date: 24 Nov. 2016
Regarding: PFX Financial Professionals Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 31 Oct. 2016 Board Decision Date: 26 Sep. 2016
Regarding: Falcon Brokers Ltd
Legislation: Directive DI144-2007-15 of 2015 – the Investor Compensation Fund Directive
Subject: Initiation of the compensation payment process by the Investor Compensation Fund for Clients of IFs (‘the I.C.F’)
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 25 Oct. 2016 Board Decision Date: 26 Sep. 2016
Regarding: XFR Financial Ltd
Legislation: The Investment Services and Activities and Regulated Markets Laws, Directive DI 144-2007-01 of 2012, Directive DI 144-2007-02 of 2012
Subject: Fine €225.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 17 Oct. 2016 Board Decision Date: 26 Sep. 2016
Regarding: Bank of Cyprus Public Company Ltd
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law, the Insider Dealing and Market Manipulation (Market Abuse) Law
Subject: Total fine € 25.000
Judicial Review: YES (24 Oct. 2016) NO Judicial Review Ruling: Pending Pending
Announcement Date: 17 Oct. 2016 Board Decision Date: 26 Sep. 2016
Regarding: Mr. Andreas Artemi (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 70.000
Judicial Review: YES (08 Dec. 2016) NO Judicial Review Ruling: Pending Pending
Announcement Date: 17 Oct. 2016 Board Decision Date: 26 Sep. 2016
Regarding: Mr. Yiannis Kypri (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 70.000
Judicial Review: YES (20 Dec. 2016) NO Judicial Review Ruling: Pending Pending
Announcement Date: 17 Oct. 2016 Board Decision Date: 26 Sep. 2016
Regarding: Mr. Yiannis Pechlivanides (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 70.000
Judicial Review: YES (14 Dec. 2016) NO Judicial Review Ruling: Pending Pending
Announcement Date: 17 Oct. 2016 Board Decision Date: 26 Sep. 2016
Regarding: Mr. Stavros Constantinides (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 50.000
Judicial Review: YES (08 Dec. 2016) NO Judicial Review Ruling: Pending Pending
Announcement Date: 17 Oct. 2016 Board Decision Date: 26 Sep. 2016
Regarding: Mr. Costas Severis (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 30.000
Judicial Review: YES (08 Dec. 2016) NO Judicial Review Ruling: Pending Pending
Announcement Date: 17 Oct. 2016 Board Decision Date: 26 Sep. 2016
Regarding: Mr. Georgios Georgiades (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 30.000
Judicial Review: YES (08 Dec. 2016) NO Judicial Review Ruling: Pending Pending
Announcement Date: 17 Oct. 2016 Board Decision Date: 26 Sep. 2016
Regarding: Mrs. Irini Caramanou (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 30.000
Judicial Review: YES (17 Oct. 2016) NO Judicial Review Ruling: Pending Pending
Announcement Date: 17 Oct. 2016 Board Decision Date: 26 Sep. 2016
Regarding: Mr. Christis Hadjimitsis (General Manager Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 70.000
Judicial Review: YES (20 Dec. 2016) NO Judicial Review Ruling: Pending Pending
Announcement Date: 04 Oct. 2016 Board Decision Date: 05 Sep. 2016
Regarding: Mr. Danny Rothman (or Mr. Daniel Rubinstein)
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Fine €100.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 03 Oct. 2016 Board Decision Date: 19 Sep. 2016
Regarding: Teos Corporate Services Ltd
Legislation: The Law Regulating Companies Providing Administrative Services and Related Matters
Subject: Fine €5.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 30 Sep. 2016 Board Decision Date: 05 Sep. 2016
Regarding: IQ Option Europe Ltd
Legislation: The Investment Services and Activities and Regulated Markets Laws, Directive DI 144-2007-01 of 2012, Directive DI 144-2007-02 of 2012
Subject: Fine €180.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 30 Sep. 2016 Board Decision Date: 05 Sep. 2016
Regarding: OptionRally Financial Services Ltd
Legislation: The Investment Services and Activities and Regulated Markets Laws, Directive DI 144-2007-01 of 2012, Directive DI 144-2007-02 of 2012
Subject: Fine €138.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 29 Sep. 2016 Board Decision Date: 26 Sep. 2016
Regarding: AirFinance Pro Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Continuance of suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 29 Sep. 2016 Board Decision Date: 05 Sep. 2016
Regarding: Best Choice FBC Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Continuance of suspension of CIF license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Sep. 2016 Board Decision Date: 12 Sep. 2016
Regarding: UBFS Invest powered by Moneychoice Brokers Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Continuance of Suspension and commencement of proceedings for the possible withdrawal of the CIF license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Sep. 2016 Board Decision Date: 16 Mar. 2015, 01 Aug. 2016
Regarding: Cyprus Popular Bank Public Co Ltd
Legislation: Insider Dealing and Market Manipulation (Market Abuse) Law, Directive DI116-2005-03
Subject: Violation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Sep. 2016 Board Decision Date: 16 Mar. 2015, 01 Aug. 2016
Regarding: Mr Efthimios Mpouloutas
Legislation: Insider Dealing and Market Manipulation (Market Abuse) Law, Directive DI116-2005-03
Subject: Total fine € 70.000
Judicial Review: YES (25 Nov. 2016) NO Judicial Review Ruling: Pending Pending
Announcement Date: 21 Sep. 2016 Board Decision Date: 16 Mar. 2015, 01 Aug. 2016
Regarding: Mr Christos Stylianides
Legislation: Insider Dealing and Market Manipulation (Market Abuse) Law, Directive DI116-2005-03
Subject: Fine € 50.000
Judicial Review: YES (25 Nov. 2016) NO Judicial Review Ruling: Pending Pending
Announcement Date: 09 Sep. 2016 Board Decision Date: 11 Jul. 2016
Regarding: Atlas Capital Financial Services Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Continuance of Suspension and commencement of proceedings for the possible withdrawal of the CIF license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 09 Sep. 2016 Board Decision Date: 05 Sep. 2016
Regarding: AFI Development Plc (In Greek)
Legislation: The Takeover Bids Law
Subject: Extension to the exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Aug. 2016 Board Decision Date: 01 Aug. 2016
Regarding: HF Markets (Europe) Ltd
Legislation: The Investment Services and Activities and Regulated Markets Laws, Directive DI 144-2007-01 of 2012, Directive DI 144-2007-02 of 2012
Subject: Fine €105.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 16 Aug. 2016 Board Decision Date: 05 Aug. 2016
Regarding: MANRICH FUND LIMITED, BIGAN WEALTH FUND LTD, GAINMORE FUND LTD και EBIT FUND LTD
Legislation: The Alternative Investment Funds Law
Subject: Non compliance of International Collective Investment Schemes with the conditions regarding their operation as Alternative Investment Funds with Limited Number of Persons
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Aug. 2016 Board Decision Date: 25 Jul. 2016
Regarding: M&L Invest Union Markets Ltd
Legislation: Regulation (EU) No. 680/2014, Directive DI144-2014-14 of the Cyprus Securities and Exchange Commission
Subject: Fine €2.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Aug. 2016 Board Decision Date: 05 Aug. 2016
Regarding: AFI Development Plc (In Greek)
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 09 Aug. 2016 Board Decision Date: 08 Aug. 2016
Regarding: Mutual Trust Limited
Legislation: The Law regulating Companies providing Administrative Services and Related Matters of 2012
Subject: Continuance of suspension of ASP license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 09 Aug. 2016 Board Decision Date: 01 Aug. 2016
Regarding: UBFS Invest powered by Moneychoice Brokers Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Continuance of suspension of CIF license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 09 Aug. 2016 Board Decision Date: 25 Jul. 2016
Regarding: Best Choice FBC Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 29 Jul. 2016 Board Decision Date: 25 Jul. 2016
Regarding: AirFinance Pro Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Continuance of suspension of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 Jul. 2016 Board Decision Date: 06 Jun. 2016
Regarding: B.O. Tradefinancials Ltd
Legislation: The Investment Services and Activities and Regulated Markets Laws, Directive DI 144-2007-01 of 2012, Directive DI 144- 2007-02 of 2012
Subject: Total Fine €138.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 06 Jul. 2016 Board Decision Date: 13 Jun. 2016
Regarding: Charilaos Apostolides Public Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 7.300
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 06 Jul. 2016 Board Decision Date: 13 Jun. 2016
Regarding: Cyprint Plc
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 7.300
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 06 Jul. 2016 Board Decision Date: 13 Jun. 2016
Regarding: Karkotis Manufacturing & Trading Public Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 7.300
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 06 Jul. 2016 Board Decision Date: 13 Jun. 2016
Regarding: L.P. Transbeton Public Ltd
Legislation: Ο περί των Προϋποθέσεων Διαφάνειας (Κινητές Αξίες προς Διαπραγμάτευση σε Ρυθμιζόμενη Αγορά) Νόμος
Subject: Συνολικό πρόστιμο € 6.300
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 06 Jul. 2016 Board Decision Date: 13 Jun. 2016
Regarding: Sea Star Capital Plc
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 1.500
Judicial Review: YES () NO Judicial Review Ruling: