The Board of the Cyprus Securities and Exchange Commission (CySEC) today announced its decision made at a meeting held on March 1, 2023.
The regulator has determined that the influence exercised by Otkritie FC Bank, as indirect shareholder of the company Otkritie Broker Ltd, is prejudicial to the sound and prudent management of the CIF.
CySEC, pursuant to article 11(3) of L. 87(I)/2017, decided to take the following measures, which will come into force after six months, in order to end that situation:
- The suspension of the exercise of the voting rights attached to the shares of the CIF, which are held by Otkritie Broker JSC (being the sole direct shareholder of the CIF and 100% subsidiary of Otkritie…
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