The Cyprus Securities and Exchange Commission (CySEC) has reached a settlement with investment firm Aquilla Nummus Ltd, addressing issues related to anti-money laundering (AML) regulations. The agreement, amounting to €150,000, follows an investigation into potential breaches of AML and terrorist financing laws.
This settlement falls under CySEC’s authority to address violations or potential violations of laws it supervises. The investigation focused on the company’s compliance from 2018 to 2020, scrutinising whether Aquilla Nummus had implemented adequate policies and procedures to meet the requirements of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007.
CySEC’s review assessed the responsibilities of Aquilla Nummus’s board of directors and the compliance officer’s duties, as established in relevant directives. The regulator’s findings indicated that the firm did not fully comply with the stringent requirements set out to prevent money laundering and terrorist financing.
In a statement, CySEC confirmed that the €150,000 settlement has been paid in full. It also clarified that all funds collected from such settlements are classified as revenue for the Treasury of the Republic of Cyprus, rather than income for the commission itself. This settlement is part of CySEC’s ongoing efforts to ensure compliance with financial regulations and uphold the integrity of the financial sector in Cyprus.
