EMIR: CySEC fines stock/FX broker

January 13, 2020

CySEC made public, a September 2019 issued, EMIR related, fine of EUR 10,000 on Solid Financial Services Ltd.

Penalty was issued at EUR 5,000 each on 2 violations:

  1. Article 9 of Regulation 648/2012 – not ensuring that the details regarding derivative contracts were reported to a TR
  2. Section 41 of the Cyprus Securities and Exchange Commission Law – providing a false statement regarding reporting details of derivative contracts to a TR

 

Cypriot regulator fines Solid Financial Services over deficiencies in reporting to trade repository