Cyprus financial regulator The Cyprus Securities and Exchange Commission (CySEC) has announced that that it would like to inform the public on the issuance of the decision on 16 January 2024, by the Cyprus Administrative Court, on the below joint Applications:
(a) No. 1833/2017, Giorgos Miltiadous v. CySEC, and
(b) No. 1834/2017, Pantelis Ioakeim v. CySEC (‘Joint Applications’).
Giorgos Miltiadous and Pantelis Ioakeim filed the Joint Applications against the decision of the CySEC, dated 6 February 2017, to impose on each of them an administrative fine of €25,000, since, as executive directors of the company Pegase Capital Ltd until March 2016, they did not conduct periodic assessments of the effectiveness of the policies, regulations, and procedures, that the company had established, for…
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