Cyprus Securities and Exchange Commission | BOARD DECISIONS
BOARD DECISIONS
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PUBLIC INFORMATION BOARD DECISIONS
BOARD DECISIONS
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: Συνολικό πρόστιμο € 20.000
Judicial Review: YES (09 Aug. 2017) NO Judicial Review Ruling: Decision Decision
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