CySEC reaches €200,000 settlement with ITRADER operator Hoch Capital

Maria Nikolova

The settlement concerns possible violations of the Cypriot investment services law.

The Cyprus Securities and Exchange Commission (CySEC) announces that it has reached settlement with Cyprus Investment Firm Hoch Capital Ltd. The latter is known as the operator of CFD brands such as ITRADER. 

The settlement concerns possible violations of The Investment Services and Activities and Regulated Markets Law of 2017 – L.87(I)/2017. In particular, the investigation for which the settlement was reached, involved assessing Hoch Capital’s compliance with:

  • Section 5(1) of the Law, relating to the general principles for the performance of investment activities.
  • Section 25, paragraphs (1) and (3), of the Law relating to the general principles and information to clients.

Let’s note that, under section 25, paragraph (3), CIFs must ensure that:

(a) all information, including marketing communications, addressed to clients or potential clients are fair, clear and not misleading, and

(b) marketing communications are clearly identifiable as such.

The settlement reached with Hoch Capital, for the possible violations, is for the amount of €200,000. The company is said to have paid the amount.

CySEC notes that all amounts payable from settlement agreements are considered revenue of the Treasury of the Republic and do not constitute income of CySEC.

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