The Cyprus Securities and Exchange Commission (CySEC) has imposed a fine of €3,500 on Exelcius Prime Ltd.
The decision, which was announced today, was made at a CySEC meeting held on June 17, 2024.
The fine stems from the firm’s non-compliance with:
- Section 58(d) of the Prevention and Suppression of Money Laundering and Terrorist Financing Law and paragraph 6 of Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing (Directive 157/2019) (‘the Directive’),
- Section 58(i) of the Law and paragraph 10(3) of the Directive, and
- Paragraph 5(d) of the Directive.
The CySEC website shows that the company is under examination for voluntary renunciation of the authorisation.
Exelcius Prime was previously known as Copydo Social Investment Network Ltd. The firm operates via several websites: www.exelciusprime.com; www.1market.eu; www.1market.hu.
