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ADMINISTRATIVE SANCTIONS 2017

Legal Entity / Person Capacity Date of Decision Ratification (€) Rationale
KDM Shipping Public Limited Securities issuer on the Warsaw Stock Exchange December 11, 2017 2,500 For violation of Law 190 (I) / 2007 on the Annual Financial Report for the year 2016.
Karyes Investment Public Company Ltd CSE securities issuer December 11, 2017 3,500 For violation of Law 190 (I) / 2007 on the Annual Financial Report for the year 2016.
Modestou Sound & Vision Public Company Ltd (ex) Issuer of securities in the CSE December 11, 2017 6.250 For violations of Law 190 (I) / 2007 on the Annual Financial Report for 2016.
Renos Hadjiioannou Farm Public Company Ltd (ex) Issuer of securities in the CSE December 11, 2017 6.250 For violations of Law 190 (I) / 2007 on the Annual Financial Report for 2016.
Iron FX Global Ltd (now Notesco Financial Services Ltd) CIF December 04, 2017 2,000 For violation of Law 144 (I) / 2007 on non-submission of financial statements for the year 2016 within the deadline.
Spot Capital Markets Ltd CIF Nov 20 2017 50,000 For violations of Law 1444 (I) / 2007 on professional ethics obligations.
Hoch Capital Ltd CIF Nov 20 2017 30,000 For violation of Law 1444 (I) / 2007 and DI 144-2007-02 on professional ethics obligations.
Chesterfield Corporate Services Ltd (ex) EPHS Nov 20 2017 20,000 For violations of Law 188 (I) / 2007 and of DG 1444-2007-08 regarding its procedures, the duties of compliance officer and the responsibilities of the BoD for the prevention of money laundering offenses.
Ioannis Vardinogiannis Investor Nov 13 2017 6.388.300 For infringement of Law No.116 (I) / 2005 concerning his act as a holder of confidential information (Sea Star Capital Plc.
Emilia Vardinoyannis Investor Nov 13 2017 50,000 For violation of Law 73 (I) / 2009 concerning misleading / false / fraudulent statements to ECC (Sea Star Capital Plc acquisition case).
Philip Larkos CIF executive Nov 13 2017 20,000 For violation of Law 73 (I) / 2009 concerning misleading / false / fraudulent statements to ECC (Sea Star Capital Plc acquisition case).
Christodoulos Greek CIF executive Nov 13 2017 20,000 For violation of Law 73 (I) / 2009 concerning misleading / false / fraudulent statements to ECC (Sea Star Capital Plc acquisition case).
Centralspot Trading Ltd CAPE Nov 13 2017 50,000 For violations of Law 144 (I) / 2007, of DG 144-2007-01 and of DG 144-2007-02 concerning its operation.
Pavel Krymov (Skopalino Finance Ltd – now Concorde Investmenets (Cyprus) Ltd)) Shareholder Nov 13 2017 10,000 For infringement of Law 1444 (I) / 2007 concerning the provision of false / misleading information and / or concealment of essential information to the ECC.
ICFD Ltd CIF Nov 13 2017 138,000 For violations of Law 144 (I) / 2007, of DG 144-2007-01 and of DG 144-2007-02 concerning its operation
Reliantco Investments Ltd CIF October 23, 2017 95,000 For violations of Law 1444 (I) / 2007, DI 144-2007-01 and DI 144-2007-02 concerning professional ethics obligations.
Asoted Services Ltd EPDY September 25, 2017 16,000 For violations of Law 188 (I) / 2007 and of DG 1444-2007-08 regarding its procedures, the duties of compliance officer and the responsibilities of the BoD for the prevention of money laundering offenses.
Agroton Public Ltd Securities issuer on the Warsaw Stock Exchange September 25, 2017 1,500 For violation of Law 190 (I) / 2007 on the Six-Month Financial Report for the first half of 2016.
KDM Shipping Public Limited Securities issuer on the Warsaw Stock Exchange September 25, 2017 1,000 For violation of Law 190 (I) / 2007 on the Six-Month Financial Report for the first half of 2016.
Louis Plc CSE securities issuer September 25, 2017 2.800 For violation of Law 190 (I) / 2007 on the Six-Month Financial Report for the first half of 2016.
Bank of Cyprus Public Company Ltd (BOC) (ex) Issuer of securities in the CSE September 18, 2017 15,000 For violations of Law 190 (I) / 2007 and Law 166 (I) / 2005 on the Annual Financial Report for 31.12.2011 (compilation / misleading data / market manipulation – adequacy of provisions for impairment of loans).
Mr. Theodoros Aristodimou (Bank of Cyprus Public Company Ltd) Chairman of the Board September 18, 2017 100,000 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Andreas Eliadis (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 100,000 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Yiannis Kypri (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 70,000 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Yiannis Pechlivanidis (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 70,000 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Stavros Konstantinidis (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 50,000 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Costas Severis (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 30,000 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Georgios Georgiadis (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 30,000 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Ms. Irene Karamanou (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 30,000 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Manthos Mavrommatis (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 30,000 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Christis Hatzimitsis (Bank of Cyprus Public Company Ltd) Director General September 18, 2017 70,000 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Andreas Artemi (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 0 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Vassilis G. Rologis (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 0 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Costas Chatzipapas (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 0 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Christos Muskis (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 0 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Elias Neocleous (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 0 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Evdokimos Xenophontos (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 0 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Ms Anna Diogenous (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 0 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Mr. Nikolaos Tsakos (Bank of Cyprus Public Company Ltd) BoD September 18, 2017 0 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the BOC Annual Financial Report for 31.12.2011 (adequacy of provisions for impairment of loans).
Charalambos Kiritsis (UBFS Invest powered by Moneychoice Brokers Ltd- (ex) CIF) BoD June 26, 2017 10,000 For breach of CA-144-2007-01 on the evaluation of policies, regulations and procedures adopted by the CIF.
Lionsman Capital Markets (Cyprus) Ltd (ex) CIF June 19, 2017 90,000 Conciliation on suspicion of possible violations of Law 1444 (I) / 2007 and of the Directives issued thereunder regarding its operation.
Cyprus Popular Bank Public Co Ltd (CPB) (ex) Issuer of securities in the CSE May 08 2017 0 For violations of Law No.116 (I) / 2005 and Law No.190 (I) / 2007 and Law No.114 (I) / 2005 on the announcement of its financial results for 31.12.2010, 31.3.2011, 30.6 .2011, 30.9.2011, its Annual Financial Report for the year 2010, its quarterly financial report for 31.3.2011, its Six-month Financial Report for 30.6.2011 and its nine-month financial report for 30.9.2011 (preparation / misleading data / manipulation – adequacy of loan forecasts).
Efthimios Bouloutas (Cyprus Popular Bank Public Co Ltd) CEO May 08 2017 200,000 For breach of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for 2010 and the Six-Month Financial Report for 30.6.2011 of the CPB (adequacy of loan forecasts).
Christos Stylianidis (Cyprus Popular Bank Public Co Ltd) Deputy CEO May 08 2017 200,000 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Neocles Lysandrou (Cyprus Popular Bank Public Co Ltd) BoD May 08 2017 160,000 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Panagiotis Kounnis (Cyprus Popular Bank Public Co Ltd) Deputy CEO May 08 2017 140,000 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Eleftherios Chiliadakis (Cyprus Popular Bank Public Co Ltd) BoD May 08 2017 140,000 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Markos Foros (Cyprus Popular Bank Public Co Ltd) BoD May 08 2017 120,000 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Konstantinos Mylonas (Cyprus Popular Bank Public Co Ltd) BoD May 08 2017 100,000 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Andreas Vgenopoulos (Cyprus Popular Bank Public Co Ltd) Chairman of the Board May 08 2017 0 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Vassilios Theocharakis (Cyprus Popular Bank Public Co Ltd) BoD May 08 2017 0 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Plato Lanitis (Cyprus Popular Bank Public Co Ltd) BoD May 08 2017 0 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Stelios Stylianou (Cyprus Popular Bank Public Co Ltd) BoD May 08 2017 0 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Hesham Al Quassin (Cyprus Popular Bank Public Co Ltd) BoD May 08 2017 0 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Fadel Al Ali (Cyprus Popular Bank Public Co Ltd) BoD May 08 2017 0 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Abdulrazaq Al Jassim (Cyprus Popular Bank Public Co Ltd) BoD May 08 2017 0 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Anita Filippidou (Cyprus Popular Bank Public Co Ltd) Home Address May 08 2017 80,000 For violation of Law 190 (I) / 2007 on the Statement of Responsible Persons in the Annual Financial Report for the year 2010 and the Six-month Financial Report for the 30.6.2011 of the CPB (adequacy of loan provisions).
Mohammed Yahya Amin Al Ansari (Falcon Brokers Ltd- (ex) ΚΕΠΕΥ) BoD / Shareholder March 27, 2017 150,000 (prohibition of professional activity until 7/2022) For breach of CA-144-2007-01 on the evaluation of policies, regulations and procedures adopted by the CIF.
Marwan El Daouk (Falcon Brokers Ltd- (ex) ΚΕΠΕΥ) BoD March 27, 2017 25,000 For breach of CA-144-2007-01 on the evaluation of policies, regulations and procedures adopted by the CIF.
Khalid Ahmad Emran Abdo (Falcon Brokers Ltd- (ex) ΚΕΠΕΥ) BoD March 27, 2017 10,000 (Prohibition of professional activity until 7/2019) For breach of CA-144-2007-01 on the evaluation of policies, regulations and procedures adopted by the CIF.
Wael Ata Elayyan Jaber (Falcon Brokers Ltd- (ex) ΚΕΠΕΥ) BoD March 27, 2017 10,000 (Prohibition of professional activity until 7/2019) For breach of CA-144-2007-01 on the evaluation of policies, regulations and procedures adopted by the CIF.
UR Trade Fix Ltd CIF March 13, 2017 20,000 For violation of Law 144 (I) / 2007 concerning the provision of an investment service which was not mentioned in its authorization.
AbdeI Rahman Alimari (CommexFX Ltd- (ex) ΚΕΠΕΥ) Address executive / shareholder February 13, 2017 200,000 (prohibition of professional activity until 6/2027) For infringement of CA-144-2007-01 regarding the evaluation of the policies, regulations and procedures adopted by the CIF – For fault, willful omission and negligence for the failure of CommexFX Ltd to comply with Law 144 (I) / 2007.
Mohab Mohamed Taghian Radwn (CommexFX Ltd- (ex) ΚΕΠΕΥ) Competent person February 13, 2017 50,000 (prohibition of business until 6/2022) For fault, deliberate omission and negligence for the failure of CommexFX Ltd to comply with Law 1444 (I) / 2007.
Stavros Hatzikyriakos (CommexFX Ltd- (ex) CIF) BoD February 13, 2017 45,000 For infringement of Law 144 (I) / 2007 and DI-144-2007-01 on the correct / complete / accurate disclosure of information to the ECC and on the evaluation of policies, regulations and procedures adopted by the CIF.
Anastasios Yapanis (CommexFX Ltd- (ex) CIF) BoD February 13, 2017 15,000 For breach of CA-144-2007-01 on the evaluation of policies, regulations and procedures adopted by the CIF.
Savvas Rigas (CommexFX Ltd- (ex) CIF) Internal auditor February 13, 2017 20,000 For infringement of Law 144 (I) / 2007 regarding the correct / complete / accurate disclosure of information to the ECC – For fault and negligence for failure to comply with CommexFX Ltd with Law 144 (I) / 2007.
Vladimir Germanos (CommexFX Ltd- (ex) CIF) Home Manager February 13, 2017 20,000 For infringement of Law 144 (I) / 2007 regarding the correct / complete / accurate disclosure of information to the ECC – For fault and negligence for failure to comply with CommexFX Ltd with Law 144 (I) / 2007.
Michel Pierre Salomon Teman (Pegase Capital Ltd- (ex) ΚΕΠΕΥ) BoD / Shareholder 06 Feb 2017 150, 000 (prohibition of professional activity until 6/2022) For breach of CA-144-2007-01 on the evaluation of policies, regulations and procedures adopted by the CIF.
Pantelis Ioakim (Pegase Capital Ltd- (ex) CIF) BoD 06 Feb 2017 25,000 For breach of CA-144-2007-01 on the evaluation of policies, regulations and procedures adopted by the CIF.
George Miltiadous (Pegase Capital Ltd- (ex) CIF) BoD 06 Feb 2017 25,000 For breach of CA-144-2007-01 on the evaluation of policies, regulations and procedures adopted by the CIF.
Alexandra White (Pegase Capital Ltd- (ex) CIF) BoD 06 Feb 2017 0 For breach of CA-144-2007-01 on the evaluation of policies, regulations and procedures adopted by the CIF.
Stavros Petrakides (Pegase Capital Ltd- (ex) CIF) BoD 06 Feb 2017 0 For breach of CA-144-2007-01 on the evaluation of policies, regulations and procedures adopted by the CIF.
Emmanuel Ayoun Proposed BoD in CIF 06 Feb 2017 10, 000 (prohibition of professional activity until 3/2022) For violations of Law 1444 (I) / 2007 concerning the provision of false / misleading information to the ECC.
Novox Capital Ltd CIF January 30, 2017 5,000 For infringement of Law 144 (I) / 2007 on non-disclosure of a substantial change to the ECC.
PriorFx Ltd CIF January 23, 2017 63,000 For violations of Law 144 (I) / 2007, of DG 144-2007-01 and of DG 144-2007-02 concerning its operation.