Nicosia, Cyprus. The Cyprus Securities and Exchange Commission (CySEC) announced settlements and administrative fines against regulated and listed entities for alleged violations of securities and transparency legislation.
Settlements with Zorivo Limited
CySEC said it reached a settlement with Zorivo Limited over a possible violation of the Investment Services and Activities and Regulated Markets Law of 2017 concerning authorisation requirements. The investigation assessed the company’s compliance with article 5(1) of the law during the period February 2024 to July 2025.
The settlement for the possible violation amounted to €70,000, which CySEC said has been fully paid by the company.
CySEC also said it reached a further settlement with Zorivo Limited for possible violations of articles 34(7) and 32(3) of the CySEC Law of 2009, relating to the obligation to comply in a timely, complete, and accurate manner with a CySEC request to conduct an on-site inspection on July 31, 2025.
The commission said the same settlement also concerned the company’s obligation to provide complete and accurate information in response to a request for information issued on September 2, 2025.
The settlement for these possible violations amounted to €50,000, which CySEC said has also been paid in full.
Revenue treatment of settlements
CySEC clarified that all settlement amounts are treated as revenue of the Republic’s Treasury and do not constitute income for the regulator itself.
Administrative fine for transparency breaches
At the same meeting, CySEC said its board imposed administrative fines for breaches of the Transparency Requirements Law of 2007 relating to the publication of half-year financial reports for the first half of the 2024 financial year.
CySEC imposed a total fine of €9,500 on KDM Shipping Public Limited for violations of sections 10(1) and 37(2)(a) of the law, citing delays exceeding 12 months and a repeated breach following similar non-compliance for the period ending June 30, 2023.
What do you think these enforcement actions indicate about CySEC’s focus on compliance and reporting deadlines?
