The Cyprus Securities and Exchange Commission (CySEC) has reached a settlement with ASP Bridge Global Solution Services Ltd (LEI 315700FXD9YM7UIYO663) concerning possible breaches of Cyprus anti-money laundering and counter-terrorist financing requirements.
CySEC acted under article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, which grants the authority the power to reach a settlement for any violation or possible violation, act or omission for which there is reasonable ground to believe that it took place in violation of CySEC's supervised legislation.
Details of the settlement
According to preliminary findings, there were reasonable suspicions that ASP Bridge Global Solution Services Ltd may have carried out acts and/or omissions in violation of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007, as amended. The suspicions also related to the Directive for the Prevention of Money Laundering and Terrorist Financing issued by CySEC, as amended.
For these possible violations, CySEC reached a settlement with the company in the amount of €40,000. The company has paid the full settlement amount of €40,000.
Timing and financial treatment
The decision of CySEC's Board regarding this settlement was dated 20 April 2026. The announcement of the settlement was made on 11 May 2026.
All amounts payable from settlement agreements reached by CySEC are considered revenue (income) of the Treasury of the Republic. These amounts do not constitute income of CySEC itself.
Regulatory framework
The case falls within CySEC's broader supervisory mandate to oversee compliance with legislation it supervises, including the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007 and related directives. Under the applicable legal framework, CySEC may address violations or possible violations through settlements when there are reasonable grounds to believe that non-compliance with supervised legislation has occurred.
