The Cyprus Securities and Exchange Commission (CySEC) has decided to impose a series of administrative fines totalling €97,250 on 13 companies for violations related to the submission of mandatory annual documents.
In its announcement, the commission cited breaches of the Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law of 2007.
The fines were issued to companies for failing to comply with requirements regarding the publication of the annual financial report for fiscal year 2023.
The total penalties vary based on the specific sections of the law violated.
KDM Shipping Public Ltd received the largest penalty, incurring a total administrative fine of €17,000.
Following closely, Toxotis Investments Public Ltd was issued a total administrative fine of €16,500 for similar violations.
Several companies were fined €13,500 each including Dome Investments Public Company Limited and A. Tsokkos Hotels Public Limited.
Karyes Investment Public Company Ltd faced an administrative fine of €9,500.
MLK Foods Public Company Ltd received a total fine of €8,500, while Agroton Public Ltd received a total fine of €7,000.
Another group of companies were penalised €2,500. These include Ermes Department Stores PLC, Woolworth (Cyprus) Properties PLC, and Cyprus Trading Corporation PLC.
Further fines were imposed on Unifast Finance & Investments Public Company Limited, with an administrative fine of €2,250, CPI Holdings Public Limited, with an administrative fine of €1,500, and Ovostar Union Public Company Limited, which received the smallest penalty of €500.
