The Cyprus Securities and Exchange Commission (CySEC) has imposed a total administrative fine of EUR 100,000 on Cyprus Investment Firm (CIF) Wonderinterest Trading Ltd after identifying a series of breaches of the Investment Services and Activities and Regulated Markets Law of 2017 during 2022-2024, including non-continuous compliance with its authorisation conditions when providing investment services. The fine comprises EUR 50,000 for failure to comply at all times with authorisation conditions, including shortcomings in policies and procedures and product governance such as not specifying an identified target market for each financial instrument and not ensuring relevant risks to that target market were assessed. CySEC also imposed EUR 30,000 for not acting honestly, fairly and professionally in clients’ best interests, and EUR 20,000 for not ensuring that information, including marketing communications, provided to clients or potential clients was fair, clear and not misleading. In setting the penalty, CySEC cited the importance of effective CIF policies and procedures, investor protection, and ensuring instruments are distributed to an identified target market following an assessment of associated risks.
Cyprus Securities and Exchange Commission 2025-12-17
Cyprus Securities and Exchange Commission imposes EUR 100,000 fine on Wonderinterest Trading Ltd for licence condition and client conduct breaches
CySEC fined Cyprus Investment Firm Wonderinterest Trading Ltd EUR 100,000 for breaches of the Investment Services and Activities and Regulated Markets Law of 2017. Penalties include EUR 50,000 for non-compliance with authorisation conditions, EUR 30,000 for not acting in clients' best interests, and EUR 20,000 for providing misleading information. CySEC emphasized the importance of effective policies, investor protection, and proper risk assessment for target markets.