Cyprus Securities and Exchange Commission | BOARD DECISIONS
BOARD DECISIONS
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PUBLIC INFORMATION BOARD DECISIONS
BOARD DECISIONS
Announcement Date: 21 Jun. 2022 Board Decision Date: 09 May. 2022
Regarding: Spa Financial Services Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law The Alternative Investment Fund Managers Law
Subject: Withdrawal of CIF authorization Granting of AIFM authorization
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Jun. 2022 Board Decision Date: 02 May. 2022
Regarding: Credit Financier Invest (CFI) Limited
Legislation: Τhe Prevention and Suppression of Money Laundering and Terrorist Financing Law
Subject: Settlement €150.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 17 Jun. 2022 Board Decision Date: 09 May. 2022
Regarding: Board of Directors of Maxigrid Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Imposition of administrative sanctions and measures
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 15 Jun. 2022 Board Decision Date: 03 Jun. 2022
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: 02 Jun. 2022 Board Decision Date: 16 May. 2022
Regarding: UCITS GMM Funds
Legislation: The Open-Ended Undertakings for Collective Investment Law
Subject: Mergers between UCITS
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 17 May. 2022 Board Decision Date: 17 Aug. 2021
Regarding: Woodbrook Group Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF authorization
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 17 May. 2022 Board Decision Date: 31 Jan. 2022
Regarding: Mount Nico Corp Ltd
Legislation: Τhe Investment Services and Activities and Regulated Markets Law
Subject: Settlement €290.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 09 May. 2022 Board Decision Date: 28 Mar. 2022
Regarding: VEROSTAR FUND AIFLNP LTD
Legislation: The Cyprus Securities and Exchange Commision Law
Subject: Fine €100
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 09 May. 2022 Board Decision Date: 14 Mar. 2022
Regarding: GH CAPITAL INVESTMENT FUNDS LTD
Legislation: The Cyprus Securities and Exchange Commision Law
Subject: Total Fine €300
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 06 May. 2022 Board Decision Date: 14 Mar. 2022
Regarding: Finteractive Ltd
Legislation: Τhe Investment Services and Activities and Regulated Markets Law
Subject: Settlement €100.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Apr. 2022 Board Decision Date: 18 Apr. 2022
Regarding: Isxis Investment Public Ltd, Regallia Holdings & Investments Public Ltd, Aias Investment Public Ltd, A.L. Prochoice Group Public Ltd, Triena Investments Public Company Ltd, Cyprus Trading Corporation Plc, Ermes Department Stores Plc and Woolworth (Cyprus) Properties Plc
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: 19 Apr. 2022 Board Decision Date: 28 Mar. 2022
Regarding: BrokerCreditService (Cyprus) Limited
Legislation: Regulation (EU) 596/2014 on Market Abuse
Subject: Fine €10.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Apr. 2022 Board Decision Date: 28 Mar. 2022
Regarding: Ayers Alliance Financial Group Limited
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Imposition of sanction and measure
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 18 Apr. 2022 Board Decision Date: 08 Mar. 2022
Regarding: RMG Holding Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF authorization
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 18 Apr. 2022 Board Decision Date: 04 Apr. 2022
Regarding: ED&F MAN Capital Markets CEEMA Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF authorization
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 15 Apr. 2022 Board Decision Date: 28 Mar. 2022
Regarding: Hoch Capital Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF authorization
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 13 Apr. 2022 Board Decision Date: 04 Apr. 2022
Regarding: The Cyprus Cement 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: 06 Apr. 2022 Board Decision Date: 14 Mar. 2022
Regarding: Capital Com SV Investments Ltd
Legislation: Regulation (EU) 596/2014 on Market Abuse
Subject: Fine €10.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Mar. 2022 Board Decision Date: 08 Mar. 2022
Regarding: RAIF RIONE 7 V.C.I.C. (RAIF) LTD
Legislation: The Alternative Investment Funds Law
Subject: Mergers between RAIFs Investments Compartments
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 18 Mar. 2022 Board Decision Date: 14 Mar. 2022
Regarding: Isxis Investment Public Ltd, Regallia Holdings & Investments Public Ltd, Aias Investment Public Ltd, A.L. Prochoice Group Public Ltd, Triena Investments Public Company Ltd, Toxotis Investments Public Ltd, Cyprus Trading Corporation Plc, Ermes Department Stores Plc and Woolworth (Cyprus) Properties Plc
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: 15 Mar. 2022 Board Decision Date: 13 Dec. 2021
Regarding: AIFLNP GH CAPITAL INVESTMENT FUNDS AIFLNP V.C.I.C. LTD – Investments Compartments Sub-Fund «CHINA», Sub-Fund «NADEJNIY», Sub-Fund «HEALTHCARE», Sub-Fund «DIVIDEND», Sub-Fund «TELECOMMUNICATIONS», Sub-Fund «BRIC: BRAZIL, RUSSIA, INDIA, CHINA», Sub-Fund «TECHNOLOGIES», Sub-Fund «4 ASIAN TIGERS», Sub-Fund «BIOTECHNOLOGIES», Sub-Fund «UTILITIES», Sub-Fund «FINANCIALS», Sub-Fund «FINANCIALS», Sub-Fund «CONSUMER SECTOR», Sub-Fund «FOND SMESHANNYH INVESTICIY», Sub-Fund «US REIT» and Sub-Fund «CONSERVATIVE “II”»
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of AIFLNP Investments Compartments authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 24 Feb. 2022 Board Decision Date: 14 Feb. 2022
Regarding: Maxigrid Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF authorization
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 14 Feb. 2022 Board Decision Date: 14 Feb. 2022
Regarding: Constantinou Bros Hotels Public Company Limited
Legislation: The Takeover Bids Law
Subject: Prohibition in the publication of an Offer Document
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 02 Feb. 2022 Board Decision Date: 27 Jan. 2022
Regarding: Isxis Investment Public Ltd, Regallia Holdings & Investments Public Ltd, Aias Investment Public Ltd, A.L. Prochoice Group Public Ltd, Triena Investments Public Company Ltd, Harvest Capital Management Public Ltd, Toxotis Investments Public Ltd, Cyprus Trading Corporation Plc, Ermes Department Stores Plc και Woolworth (Cyprus) Properties Plc
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: 26 Jan. 2022 Board Decision Date: 17 Jan. 2022
Regarding: Karyes Investment Public Company 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: 24 Jan. 2022 Board Decision Date: 11 Oct. 2021
Regarding: Atlantic Securities Ltd
Legislation: Regulation (EU) 596/2014 on Market Abuse
Subject: Fine €3.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Jan. 2022 Board Decision Date: 07 Dec. 2021
Regarding: PMT MATRIX CAPITAL LTD
Legislation: The Investment Services and Activities and Regulated Markets Law The Alternative Investment Fund Managers Law The Open-Ended Undertakings for Collective Investment Law
Subject: Withdrawal of CIF authorisation Granting of AIFM and UCITS Management Competent authorization
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 13 Jan. 2022 Board Decision Date: 29 Jun. 2021, 13 Dec. 2021
Regarding: Alkis H. Hadjikyriacos (Frou – Frou Biscuits) 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: 30 Dec. 2021 Board Decision Date: 20 Dec. 2021
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: 28 Dec. 2021 Board Decision Date: 20 Dec. 2021
Regarding: Toxotis Investments Public Ltd, Cyprus Trading Corporation Plc, Ermes Department Stores Plc και Woolworth (Cyprus) Properties Plc
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. 2021 Board Decision Date: 19 Jul. 2021
Regarding: AFX Capital Markets Ltd, Διοικητικό Συμβούλιο, Ελεγκτές
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF licence and imposition of administrative sanctions and measures
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 16 Dec. 2021 Board Decision Date: 08 Nov. 2021
Regarding: Feldmans Management (Overseas) Ltd
Legislation: The Cyprus Securities and Exchange Commission Law
Subject: Revocation of administrative fine
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 14 Dec. 2021 Board Decision Date: 08 Nov. 2021
Regarding: KMG Capital Markets Ltd
Legislation: The Open-Ended Undertakings for Collective Investment Law
Subject: Revocation of Management Company’s operation licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 02 Dec. 2021 Board Decision Date: 22 Nov. 2021
Regarding: Minerva 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. 2021 Board Decision Date: 11 Oct. 2021
Regarding: INTERNATIONAL LEISURE MARINE FUND (ILMF) LTD
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of AIFLNP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 26 Nov. 2021 Board Decision Date: 16 Nov. 2021
Regarding: CLEGANE FUND LTD
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of AIFLNP authorization
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 23 Nov. 2021 Board Decision Date: 11 Oct. 2021
Regarding: Mr. Demetrios Chomatas and others
Legislation: Regulation (EU) No. 596/2014 on Market Abuse
Subject: Settlement €9.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 15 Nov. 2021 Board Decision Date: 08 Nov. 2021
Regarding: Isxis Investment Public Ltd, Regallia Holdings & Investments Public Ltd, Aias Investment Public Ltd, Harvest Capital Management Public Ltd, SFS Group Public Company Ltd, D.A.P.P. Digital Access Pass PTE Investments Public Company Ltd, A.L. Prochoice Group Public Ltd, Triena Investments Public Company 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: 04 Nov. 2021 Board Decision Date: 11 Oct. 2021
Regarding: Sonaf Business 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: 03 Nov. 2021 Board Decision Date: 02 Nov. 2021
Regarding: Depaho Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Recall of suspension of CIF license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 03 Nov. 2021 Board Decision Date: 18 Oct. 2021
Regarding: RAM CYPRUS INCOME FUND LTD
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of AIFLNP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 26 Oct. 2021 Board Decision Date: 18 Oct. 2021
Regarding: Karyes Investment Public Company 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: 22 Oct. 2021 Board Decision Date: 22 Oct. 2021
Regarding: Depaho 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 Oct. 2021 Board Decision Date: 15 Oct. 2021
Regarding: Maxigrid 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: 15 Oct. 2021 Board Decision Date: 15 Oct. 2021
Regarding: Maxiflex 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: 21 Sep. 2021 Board Decision Date: 14 Jun. 2021
Regarding: London Capital Group (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: 10 Sep. 2021 Board Decision Date: 01 Mar. 2021
Regarding: Belight Capital Group Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF authorization
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Sep. 2021 Board Decision Date: 10 Sep. 2021
Regarding: Depaho 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 Sep. 2021 Board Decision Date: 30 Aug. 2021
Regarding: D&V Pegasus Real Estate AIF VCIC Plc
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of AIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 02 Sep. 2021 Board Decision Date: 30 Aug. 2021
Regarding: Isxis Investment Public Ltd, Regallia Holdings & Investments Public Ltd, Aias Investment Public Ltd, Harvest Capital Management Public Ltd, SFS Group Public Company Ltd, D.A.P.P. Digital Access Pass PTE Investments Public Company Ltd, A.L. Prochoice Group Public Ltd, Triena Investments Public Company Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of trading of shares
Judicial Review: YES () NO Judicial Review Ruling:
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