CySec to investigate a possible market abuse on BoC shares

CySec to investigate a possible market abuse on BoC shares

The Cyprus Securities and Exchange Commission (CySec) will investigate a possible market abuse concerning the trading of the Bank of Cyprus shares, CySec Vice Chairman Andreas Andreou has told CNA.

After the relisting of Bank of Cyprus shares yesterday, following 21 months of suspension, the Cyprus Stock Exchange recorded two ‚Äúsuspicious transactions‚ÄĚ that could be considered as market abuse, CSE General Director Nontas Metaxas told CNA.

He added that the CSE has reported the transaction to CySec for investigation.

CySec Vice Chairman told CNA that the CySec Board has given instruction to the relevant department to investigate the transaction and to report back to the Board which will decide on the further steps.

He added that should the Board ascertain market abuse, it could impose a fine or even refer the case to the Attorney-General for a possible criminal persecution.
CNA/GS/MM/2014
ENDS, CYPRUS NEWS AGENCY