The Cyprus-based investment firm Exclusive Change Capital has reached a settlement with Forty Thousand Euros with the Cyprus Securities and Exchange Commission (CySEC).
The reached settlement is about the potential violation of 2017’s Investment Services and Activities and Regulated Markets Law – in the way it has been amended.
In specific terms, an investigation was made in the time period of January to August 2021 about the company’s situation regarding compliance of Investment Services and Activities and Regulated Markets Law’s Article 22(1) and the conditions of authorization under article 17(5)(b) – also of the same law.
As an investment firm based out of Cyprus, Exclusive Change Capital is obligated to adhering to these organizational rules – which it did not.
Exclusive Change Capital has paid the settlement amount. CySEC has acknowledged the same and noted that the amount paid shall be considered income of the Cypriot Treasury and not of the CySEC itself.
