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.
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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.