CySEC Fines More Than a Dozen of Entities

The Board of the Cyprus Securities and Exchange Commission (‘the CySEC’) said in a a statement today that at its meeting held on 10th February 2020, it decided to impose the following administrative fines for violations of the Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law of 2007, as amended (‘the Law’), in regard to the publication of the Annual Financial Report for the year 2018:

Harvest Capital Management Public Ltd – Imposition of a total administrative fine of €13.000 for violation of sections 9(1) and 37(2)(a) of the Law,

Liberty Life Insurance Public Company Ltd – Imposition of a total administrative fine of €12.500 for violation of sections 9(1) and 37(2)(a) of the Law,

Cyprus Trading Corporation Plc – Imposition of a total administrative fine of €12.500 for violation of sections 9(1) and 37(2)(a) of the Law,

Woolworth (Cyprus) Properties Plc – Imposition of a total administrative fine of €12.500 for violation of sections 9(1) and 37(2)(a) of the Law,

Ermes Department Stores Plc – Imposition of a total administrative fine of €12.500 for violation of sections 9(1) and 37(2)(a) of the Law,

Aias Investment Public Ltd– Imposition of a total administrative fine of €12.500 for violation of sections 9(1) and 37(2)(a) of the Law,

A.L. Prochoice Group Public Ltd – Imposition of an administrative fine of €8.500 for violation of section 9(1) of the Law,

Rolandos Enterprises Public Ltd- Imposition of an administrative fine of €6.500 for violation of section 9(1) of the Law,

Regallia Holdings & Investments Public Ltd – Imposition of a total administrative fine of €6.500 for violation of sections 9(1) and 37(2)(a) of the Law,

Isxis Investment Public Ltd– Imposition of a total administrative fine of €6.500 for violation of sections 9(1) and 37(2)(a) of the Law,

Elma Holdings Public Company Ltd – Imposition of a total administrative fine of €6.250 for violation of sections 9(1) and 37(2)(a) of the Law,

Dodoni Portfolio Investments Public Company Ltd– Imposition of a total administrative fine of €6.250 for violation of sections 9(1) and 37(2)(a) of the Law,

Jupiter Portfolio Investments Public Company Ltd – Imposition of a total administrative fine of €6.250 for violation of sections 9(1) and 37(2)(a) of the Law,

CPI Holdings Public Ltd – Imposition of an administrative fine of €3.750 for violation of section 9(1) of the Law,

Ch. Charilaou Group Plc – Imposition of an administrative fine of €3.000 for violation of section 9(1) of the Law,

Karyes Investment Public Company Ltd – Imposition of an administrative fine of €3.000 for violation of section 9(1) of the Law,

Exelixi Investment Public Ltd – Imposition of an administrative fine of €1.500 for violation of section 9(1) of the Law,

Unigrowth Investments Public Ltd – Imposition of an administrative fine of €1.500 for violation of section 9(1) of the Law. Full details/justification of the CySEC’s decision are/is available in the Greek text of the announcement.