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CySEC Issues Key Rulings on Investment Firm Fines and Fund Liquidation

The Cyprus Securities and Exchange Commission (CySEC) recently announced pivotal regulatory actions reflecting its steadfast stance on maintaining compliance standards in the financial sector.

Fine Imposed on iTrade Global (CY) Ltd

During its February 2025 meeting, the CySEC Board decided to impose an administrative fine of €1,250 on the Cyprus Investment Firm, iTrade Global (CY) Ltd. This decision followed findings of non-compliance with Directive 157/2019, which targets the Prevention and Suppression of Money Laundering and Terrorist Financing.

Liquidation of WAVENTURES RAIF F.C.I.C. PLC

Separately, CySEC was informed of the initiation of the dissolution procedure for WAVENTURES RAIF F.C.I.C. PLC, managed by Hanseatic Capital Management Ltd. This fund, registered under the RAIF154 designation, will remain listed in the RAIFs Registry as ‘under liquidation’ until the process is finalized.

Industry Implications

The latest updates from CySEC emphasize the need for robust compliance frameworks.

As Cyprus continues to align with broader European directives, the island’s financial landscape is poised for transformative changes.

A Shift in Shopping Habits: 76% of Cypriots Embrace Online Shopping

In an era heavily leaning towards the digital, Cyprus has marked a pivotal milestone with 76% of its citizens now engaging in online shopping, as revealed in the latest survey by the Office of the Commissioner of Electronic Communications & Postal Regulation (OCECPR).

The study shows not only an increase in the number of online shoppers, but also a rise in the frequency of purchases, from an average of 1.2 times per month in 2022 to 2.0 in 2025.

The survey collected feedback from over 1,500 participants, consisting of both citizens and small businesses, illustrating a nuanced shift in postal usage. Interestingly, while 95% of individuals still prefer Cyprus Post, this figure drops drastically for businesses, with just 28% relying on it, as they increasingly opt for private services.

Postal Patterns and Parcel Preferences

The report highlights a fascinating turnaround in postal habits. The number of letters received and sent has climbed since 2023, countering years of decline. Parcel deliveries have seen a similar uptick, with 71% of businesses reporting higher parcel over letter shipments and anticipating continued growth.

This aligns with global trends where businesses adapt to consumer demands for efficient logistics.

Decision Factors: Beyond Cost

Although citizens deem postal service costs reasonable, they largely base their choices on quality, location, and user experience. Businesses, on the other hand, prioritize quick service, competitive rates, extensive networks, and reliable tracking systems.

As the digital realm continues to evolve, it’s worthwhile considering the broader technological landscape and its implications.

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