CySEC Fines Capital Com for Non-Compliance with Article 16(2)

The Cyprus Securities and Exchange Commission (CySEC) has fined CIF Capital Com SV Investments Ltd. 10,000 euros for non-compliance with article 16(2) of Regulation (EU) 596/2014 on market abuse.

In January 2022, CySEC fined Atlantic Securities Ltd for violating Article 16(2). CySEC fined Atlantic 3,000 euros only, a significantly lower amount than what they fined CIF Capital Com SV Investments Ltd.

CySEC’s fine of 10,000 euros to CIF Capital Com SV Investments Ltd for non-compliance with article 16(2) of Regulation (EU) 596/2014 on market abuse is significant. It highlights the importance of compliance with this regulation and sends a message to other market participants that non-compliance will not be tolerated.

It shows that CySEC is taking a tougher stance on companies that fail to comply with this regulation and clearly states they would not tolerate non-compliance.

Market participants should take note of this decision and ensure that they comply with all relevant regulations to avoid being fined by CySEC.

Capital.com Response

After receiving a fine notification, Capital.com has reached out to the Cyprus Securities and Exchange Commission (CySEC). The fine relates to the delayed regulatory reporting of a market abuse case involving two clients on the platform. The non-compliance was discovered over a year ago.

Capital.com is deeply committed to ensuring a strong culture of regulatory compliance and always aims to report all regulatory incidents as soon as they occur. To ensure that all future incidents are reported quickly, the company has made additional improvements to its processes.

It’s the first time Capital.com has received a notification of a fine from CySEC. The commission is currently reviewing the notification.