CySEC Announces Settlement With ISPASS TECHNOLOGIES
CySEC has reached a settlement with ISPASS TECHNOLOGIES LIMITED over possible violations of the Investment Services and Activities and Regulated Markets Act 2017.。
Cyprus Securities and Exchange Commission (CySEC) today announced it has reached a €60,000 settlement with ISPASS TECHNOLOGIES LIMITED。
CySEC notes that it has the power under section 37 (4) of the Cyprus Securities and Exchange Commission Act 2009 to settle any breach or possible breach, act or omission for which there are reasonable grounds to believe it has taken action.。Applicable to all subjects that violate the provisions of CySEC regulatory legislation。
The reason for the settlement with ISPASS TECHNOLOGIES is that the company may have violated the Investment Services and Activities and Regulated Markets Act 2017.。Specifically, the investigation under which the settlement was reached concerned the compliance of the company between November 2021 and September 2022, the provisions of section 5 (1) of the law on CIF authorization requirements.。
The settlement reached with the company for possible violations amounts to €60,000 and the company has completed the payment。
CySEC explained that all amounts due in the settlement are considered revenue for the state Treasury and do not constitute revenue for CySEC.。
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