Cyprus Securities and Exchange Commission (CySEC) today announced a €50,000 settlement with BCM Begin Capital Markets。

Pursuant to section 37 (4) of the Cyprus Securities and Exchange Commission Act 2009, the Cyprus Securities and Exchange Commission may enter into a settlement agreement in respect of any act or omission which contravenes or is likely to contravene, or which there are reasonable grounds for believing to be a contravention of a legal provision within the scope of the regulation of the Cyprus Securities and Exchange Commission.。

Settlement with BCM Begin Capital Markets CY Ltd for possible violations of the Investment Services and Activities and Regulated Markets Act 2017 - L.87 (I) / 2017 (the "Act") and Regulation (EU) No. 1286 / 2014 on key information documents for packaged retail and insurance investment products (PRIIPs)。

In particular, the investigation that led to the settlement involved assessing whether the company complied with the following terms when providing investment services to Slovenian resident clients:

Article 5 (1) of the Act on CIF authorization requirements。§ 22 (1) of the Act, concerning the conditions of authorization set out in sections 17 (3) (a) and 17 (5) (a) of the Act, regarding the organizational requirements that the CIF must comply with。Article 24 (1) of the Act on conflicts of interest。◇ Article 25 (1) and (3) of this Law, on general principles and information provided to customers。§ 26 (3) (a) of the Act on the assessment of client suitability。Article 5 (2) of the Regulations on the drafting of key information documents。Article 8 (3) of the Regulations on the form and content of major information documents。

The settlement with the company amounts to €50,000。The company has paid €50,000。

The regulator noted that all amounts due in connection with the settlement are considered to be income of the Republic Treasury and do not constitute income of CySEC.。

The company, formerly known as OX Capital Markets Limited, operates several websites, including www..profitlevel.com, www.capitalpanda.com and www.begincapitalmarkets.Com。

In December 2022, CySEC announced a €100,000 settlement with BCM Begin Capital Markets CY Ltd for investment law violations.。