The Cyprus Securities and Exchange Commission (CySEC) today announced a €40,000 settlement with Cyprus investment firm (CIF) Exclusive Change Capital Ltd.

The settlement concerns possible violation of the Investment Services and Activities and Regulated Markets Law of 2017, as amended (the «Law»).

More specifically, the investigation for which the settlement was reached involved assessing the company’s compliance, during the period January 2021 – August 2021, with the article 22(1) of the Law as to the authorisation condition laid down in article 17(5)(b) of the Law, regarding the organizational requirements with which a CIF is required to comply.

The company has paid the amount of €40,000.

CySEC notes that all amounts payable from settlement agreements are considered revenue (income) of the Treasury of the Republic and do not constitute income of CySEC.