CIFs : Cyprus Investment Firms
CIFs : Cyprus Investment Firms Directors’ Liabilities in the case of an offence (illegal act) Any Cyprus Investment Firm (CIF) should have at least two executive Directors on their Board of Directors. Any independent non-executive Directors will be experienced in their fields, have good reputations, use their abilities and skills to promote their company, and be well known in the business community. The majority of Directors will be Cypriot residents. Section 138 of the Investment Services and Activities Regulated Markets Law 144 (1) 2007 (the ‘law’) states that the commission may impose a fine of up to €175,000 For any person who violates the provisions...
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