The Cyprus Securities and Exchange Commission (CySEC) announced a €200,000 settlement with Cyprus investment firm (CIF) Zemblanco Investments Ltd doing business as Zemblanco (www.zemblanco.com). In August, the Cyprus regulator announced a €100,000 settlement with ICC Intercertus Capital Limited operating the brands Axiance (www.axianceeu.com) and Inflyx (www.inflyx.com). In July, CySEC reached settlements with BCM Begin Capital Markets CY Limited (here) and ForexTB Ltd (here).
The settlement with Zemblanco concerns the investment firm’s possible violations of the Prevention and Suppression of Money Laundering and Terrorist Financing Law as amended in 2007, as these appeared on an inspection taking place during the period December 2020 – December 2021. The company already settled the amount of €200,000.
The settlement with ICC Intercertus Capital concerns the investment firm’s possible violation, for the period January 2020 until May 2021 of Article 42 of Regulation (EU) No 600/2014 on markets in financial instruments, as to comply with paragraph 5 of the Directive for the Restriction on the Marketing, Distribution, and Sale of Contracts for Difference (CFDs) to Retail Clients, regarding the prohibition of participation in circumvention activities. The company has paid the amount of €100,000.
