The Cyprus Securities and Exchange Commission (CySEC) today announced a €70,000 settlement with Cyprus investment firm (CIF) Blacktower Financial Management (Cyprus) Ltd.

The settlement is reached under article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009.

The settlement concerns possible violations of the Investment Services and Activities and Regulated Markets Law of 2017, as amended.

More specifically, the investigation for which the settlement was reached involved assessing the company’s compliance during the period November 2020 – 5 May 2025, with:

• Article 24(1) of the Law, regarding the conflicts of interest.
• Article 25(1) of the Law, regarding the general principles and information addressed to clients.

The company has paid the amount of €70,000.

The regulator 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.