The Cyprus Securities and Exchange Commission (CySEC) has reached a €40,000 settlement with Daventryx Limited over a possible breach of rules governing the provision of administrative services, following an investigation covering almost seven years.

The settlement, announced on Tuesday, relates to the company’s compliance with legislation regulating administrative service providers between September 20, 2018, and August 8, 2025.

The Cypriot regulator said the investigation focused on whether Daventryx Limited had complied with the prohibition on providing administrative services through persons who are not eligible to do so.

The settlement was agreed on September 28, 2026, under the Law Regulating Companies Providing Administrative Services and Related Matters of 2012, as amended.

The company has paid the full €40,000 settlement, the commission confirmed.

CySEC said it has the power to reach settlements under Article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, as amended.

This allows the regulator to settle cases involving an actual or possible violation, act or omission where there are reasonable grounds to believe that the conduct breached legislation under its supervision.

Finally, the commission clarified that money collected through settlement agreements goes to the Treasury of the Republic of Cyprus, rather than being treated as income for CySEC itself.