CySEC fines several companies for violations of transparency requirements


The Board of the Cyprus Securities and Exchange Commission (CySEC) has informed the public that, at its meetings held on 25th September 2017 and 11th December 2017, 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’):

1. Violations in regard to the publication of the Half-Yearly Financial Report for the first half of the year 2016:

  • Louis Plc – Imposition of an administrative fine of €2.800 for violation of section 10(1) of the Law,
  • Agroton Public Ltd – Imposition of an administrative fine of €1.500 for violation of section 10(3)(b) of the Law,
  • KDM Shipping Public Limited – Imposition of an administrative fine of €1.000 for violation of section 10(3)(b) of the Law.

2. Violations in regard to the publication of the Annual Financial Report for the year 2016:

  • Renos Hatzioannou Farm 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,
  • Modestou Sound & Vision 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,
  • Karyes Investment Public Company Ltd – Imposition of an administrative fine of €3.500 for violation of section 9(1) of the Law,
  • KDM Shipping Public Limited – Imposition of an administrative fine of €2.500 for violation of section 9(1) of the Law.

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CySEC fines several companies for violations of transparency requirements

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