Cyprus regulator imposes €1m fine on investment firm with tied agent in Spain 

Mark Battersby
clock • 2 min read

The Cyprus Securities and Exchange Commission CySEC) said on 13 April it had imposed a €1m fine on the Cyprus investment firm Itrade Global (Cy) Ltd.      CySEC said in a statement it reached this decision due to the Company's infringement of multiple provisions of the Investment Services and Activities and Regulated Markets Law of 2017.  In particular, among other, Itrade Global failed to implement policies and procedures to monitor the activities of its tied agent in Spain, when acting on its behalf. The law provides that CIFs remain fully and unconditionally responsible for any act...

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