Colmex Pro Fined 100,000 by CySEC for Non-Compliance Issues

The Board of the Cyprus Securities and Exchange Commission (CySEC) would like to inform the public that, at the meeting held on 28 November 2016, it decided to impose a total administrative fine of 100.000 to CIF Colmex Pro Ltd for non compliance with the following:

1. Section 28(1) of the Investment Services and Activities and Regulated Markets Law of 2007, as amended from time to time ('the Law'), as it failed to comply at all times with the authorization and operating conditions, as laid down in Section 18(2), paragraphs (a) and (d), of the Law and paragraphs 14 and 16 of Directive DI 144-2007-01 of 2012 of the Securities and Exchange Commission for the Authorisation and Operating Conditions of CIFs,


2. Section 36(1), paragraphs (a) and (d), of the Law and paragraphs 6, 15 and 16 of Directive DI 144-2007-02 of 2012 of the Securities and Exchange Commission for the Professional Competence of Investment Firms and the Natural Persons Employed by Them.