The Cyprus Securities and Exchange Commission imposed a total administrative fine of EUR 100,000 on Cyprus Investment Firm Titanedge Securities Ltd. for violations committed in 2023-2024. The breaches concerned misleading client communications, unauthorized investment advice and inadequate compliance policies and procedures. The regulator fined the firm EUR 40,000 for failing to ensure that information and marketing communications provided to clients or potential clients were fair, clear and not misleading. It imposed two further fines of EUR 30,000 each for regularly providing investment advice without the required authorization and for failing to maintain adequate policies and procedures to comply with its legal obligations. The Cyprus Securities and Exchange Commission found that the firm had not protected clients’ interests or operated within the scope of its license during the relevant period.

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