CySEC fines individual €10.000 for fraud


CySEC fine

The Cyprus Securities and Exchange Commission (CySEC) has just informed the public that it decided the imposition of an administrative fine of €10.000 to Mrs Milena Valentinova Christofide.

The complete text of the regulator’s decision can be seen below:


Announcement date: 19.10.2018

Board decision date: 03.09.2018

Regarding: Mrs Milena Valentinova Christofide

Legislation: The Investment Services and Activities and Regulated Markets Law

Subject: Fine €10.000

The Board of the Cyprus Securities and Exchange Commission (‘CySEC’) would like to inform the public that, at its meeting held on 3rd September 2018, decided to impose an administrative fine of €10.000 to Mrs Milena Valentinova Christofide, for non compliance with section 139(2) of the Investment Services and Activities and Regulated Markets Law of 2007, as was in force (L.144(I)/2007), as she provided false and/or misleading information in her questionnaire which was submitted to CySEC on January 2016 regarding her academic qualifications.

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CySEC fines individual €10.000 for fraud

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