The Cyprus Securities and Exchange Commission (CySEC) this week announced that it has reached four separate settlement agreements with employees of V.P. Magnetic Support Technologies Ltd over possible violations of the Cyprus Securities and Exchange Commission Law of 2009.

CySEC stated that it acted under article 37(4) of the law, which allows it to settle any violation or possible violation, act or omission for which there are reasonable grounds to suspect a breach of supervised legislation.

The first settlement concerns F. A. V., who was found to have possibly provided false or misleading statements during a deposition on May 19, 2025.

CySEC confirmed that the settlement amount was €15,000, which F. A. V. has paid.

A second settlement was reached with G. R. V. in connection with the same date of deposition, May 19, 2025, and the same possible violation relating to article 41 of the law.

The amount agreed in this case was also €15,000, which has likewise been paid in full.

A third settlement involved D. M., who was linked to possible provision of false or misleading statements during a deposition on April 17, 2025.

This settlement was set at €10,000 and has been paid.

What is more, a fourth settlement was concluded with A. P. regarding a deposition on April 2, 2025, over the same type of possible violation of article 41.

CySEC said that the amount of this settlement was €10,000, which A. P. has paid.

The regulator emphasised that all settlement amounts are paid into the treasury of the Republic of Cyprus and do not constitute income for CySEC itself.