CySEC Reaches €260.000 Settlement With Hoch Capital Ltd


CySEC has confirmed a €260.000 settlement with Hoch Capital Ltd for possible violations of the Investment Services and Activities and Regulated Markets Law of 2017.

December 11, 2020 | AtoZ Markets – The Cyprus Securities and Exchange Commission (CySEC) announced on Friday, that it has reached a settlement with the CIF Hoch Capital Ltd for possible violations of The Investment Services and Activities and Regulated Markets Law of 2017 (“the Law”).

Hoch Capital, a CySEC regulated firm offers contracts for difference (CFDs) instruments for a range of assets, including forex.

CySEC reached  €260.000 settlement with Hoch Capital Ltd

More specifically, the settlement reached involved assessing the Company’s compliance for the period January 2018 until April 2020, with regard tο:

1. Article 5(1) of the Law regarding the requirement for CIF authorization.
2. Article 22(1) of the Law as to the authorization conditions of articles 17(2) and 17(5)(a) of
the Law, regarding the organizational requirements with which a CIF is required to comply.
3. Article 24 of the Law regarding conflicts of interest.
4. Articles 25(1) and 25(3) of the Law regarding the general principles and information to
clients.

CySec has now confirmed that Hoch Capital Ltd has paid the amount of €260.000 for the possible violations. However, the amounts due to settlement agreements are calculated as revenue (income) to the Treasury of the Republic and do not constitute income of CySEC.

It is worthy of note that the Cypriot regulator entered into similar settlements with other brokerage firms as well, including iTraderColmex Pro and XTrade Europe.

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