Cyprus Securities and Exchange Commission

6 July 2022 CYSEC Board Decision Announcement date: 06.07.2022 Board decision date: 16.05.2022 Regarding: BCM Begin Capital Markets CY Ltd Legislation: Τhe Investment Services and Activities and Regulated Markets Law Subject: Settlement €170.000 Judicial Review: N/A Judicial Review Ruling: N/A The Cyprus Securities and Exchange Commission («CySEC») would like to note the following: CySEC, under article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, may reach a settlement agreement regarding any violation or possible violation, act or omission for which there is reasonable ground to believe that is in breach of the provisions of legislation under the regulatory remit of CySEC. Α settlement has been reached with the CIF BCM Begin Capital Markets CY Ltd («the Company») for possible violations of the Investment Services and Activities and Regulated Markets Law of 2017 – L.87(I)/2017 («the Law»). More specifically, the investigation for which the settlement was reached, involved assessing, for the period January 2021 until April 2022, the Company’s compliance with: 1. Article 25, paragraph (1) and (3), of the Law, regarding general principles and information to clients. 2. Article 5(1) of the Law, regarding the requirement for CIF authorisation. The settlement reached with the Company, for the possible violations, is for the amount to €170.000. The Company has paid the amount of €170.000. It is noted that all amounts payable relating to settlement agreements are considered revenue (income) of the Treasury of the Republic and do not constitute income of CySEC.