A settlement has been reached with the CIF Crowd Tech Ltd (“the Company”) for possible violations of the Investment Services and Activities and Regulated Markets Law of 2017 (“the Law”).
The investigation for which the settlement was reached, was for the period January 2020 until June 2021.
- Article 5(1) of the Law, regarding the requirement for CIF authorization.
- Αrticle 22(1) of the Law as to the authorisation condition laid down in article 17(2) of the Law, regarding the organisational requirements a CIF is required to comply.
- Article 25, paragraph (1) and (3), of the Law, regarding general principles and information to clients.
- Article 42 of the Regulation 600/2014 as to complying with paragraph 5 of the CySEC’s Directive DI87-09 for the Restriction on the Marketing, Distribution, and Sale of Contracts for Difference (CFDs) to Retail Clients (DI87-09), regarding the prohibition of participation in circumvention activities.
The settlement reached with the Company, for the possible violations, is for the amount of one
€230.000
The Company has already paid.
