The Cyprus Securities and Exchange Commission (CySEC) has announced a series of settlements and administrative fines targeting violations of securities and transparency legislation by regulated and listed entities.

Firstly, CySEC said a settlement was reached 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, CySEC said.

The settlement for the possible violation amounted to €70,000, which has been fully paid by the company.

A further settlement was reached 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.

CySEC 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 has also been paid in full.

The commission clarified that all settlement amounts are treated as revenue of the Republic’s Treasury and do not constitute income for the regulator itself.

At the same meeting, the CySEC 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.

A total fine of €9,000 was imposed on Toxotis Investments Public Ltd, also for violations of sections 10(1) and 37(2)(a), taking into account a delay exceeding 12 months and a repeated infringement from the previous year.

CySEC imposed an administrative fine of €5,000 on A. Tsokkos Hotels Public Limited, citing a delay of approximately nine months in publishing the half-year financial report and a similar violation in 2023.

An identical fine of €5,000 was imposed on Dome Investments Public Company Limited for the same type of delay and repeated non-compliance.

MLK Foods Public Company Ltd was fined €4,750 in total, with CySEC noting a delay exceeding 12 months, a repeated violation, and the impact of the Russia–Ukraine war since February 2022 on the company’s operations in Ukraine.

Karyes Investment Public Company Ltd received an administrative fine of €2,250, with CySEC taking into account a delay of approximately four and a half months and the company’s compliance record in the previous year.

Unifast Finance and Investments Public Company Limited was fined €1,750, reflecting a delay of around seven months, the company’s financial robustness, and prior compliance in 2023.

CySEC said that in determining fines for breaches of article 10(1), it considered the importance of timely disclosure of half-year financial reports to market transparency and investor protection.

The regulator also emphasised the seriousness of ensuring full compliance with transparency obligations by all entities covered by the law.

Additional fines were imposed for violations of article 37(2)(a) for failure to submit half-year financial reports to CySEC.

KDM Shipping Public Limited was fined €2,000 after failing to submit its report for the period ending June 30, 2024, with CySEC citing a repeated breach from the previous year.

Toxotis Investments Public Ltd received a fine of €1,500, reflecting non-submission of the report for 2024 despite compliance in 2023.

MLK Foods Public Company Ltd was fined €1,000, with CySEC again taking into account the impact of the war in Ukraine alongside repeated non-compliance.

CySEC said these fines reflected the importance of timely submission of periodic information to the competent supervisory authority to ensure the orderly functioning of the market.

A separate administrative fine of €1,000 was imposed on Agroton Public Limited for violating article 10(3)(b) of the law.

CySEC said the company failed to include an interim management report in its published half-year financial report for the period ending June 30, 2024.

The regulator said the decision reflected the importance of complete and properly prepared financial reporting, enabling investors to assess an issuer’s financial position, performance, and prospects.