The Cyprus Securities and Exchange Commission (CySEC) today announced a €70,000 settlement with Cyprus investment firm (CIF) Argus Stockbrokers Ltd.
CySEC, under article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, may reach a settlement agreement regarding any violation or possible violation, act or omission for which there is reasonable ground to believe that it took place in violation of the provision of CySEC’s supervised legislation.
The settlement with Argus Stockbrokers Ltd concerns possible violations of the Prevention and Suppression of Money Laundering and Terrorist Financing Laws of 2007 (the ‘Law’) and the Directive for the Prevention of Money Laundering and Terrorist Financing issued by CySEC (‘the Directive’), as these appeared on an inspection taking place in November 2019.
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