CySEC extends ban on management of Petros Zachariades
Cyprus Securities and Exchange Commission (CySEC) has banned Petros Zachariades from exercising its management duties。
The Cyprus Securities and Exchange Commission (CySEC) has announced today the latest development regarding the decision to prohibit Petros Zachariades from performing managerial duties at Crowd Tech Ltd.
In January 2023, the regulatory authority decided to:
- Suspend the voting rights attached to Mr. Zachariades' shares in Crowd Tech Ltd ("CIF").
- Prohibit Mr. Zachariades from exercising management responsibilities on the CIF board.
On April 3rd, CySEC stated that, based on the information available, the effective date of the above measures would be extended until September 13th, 2024.
Crowd Tech Ltd, formerly known as MPF Global Markets Ltd, operates under the domain name trade360.com.
CySEC previously determined that the influence exerted by Petros Zachariades as the sole shareholder of Crowd Tech was detrimental to the robust and prudent management of CIF.
In October 2022, CySEC announced a settlement with Crowd Tech, involving potential violations of the Investment Services and Activities and Regulated Markets Law of 2017 (Law 87(I)/2017) and Regulation (EU) No 600/2014 on markets in financial instruments.
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