On 11 May 2026, the Cyprus Securities and Exchange Commission (CySEC) announced a board decision dated 20 April 2026 concerning a settlement with ASP Bridge Global Solution Services Ltd (LEI: 315700FXD9YM7UIYO663). The decision relates to preliminary findings that raised reasonable suspicions of acts and/or omissions by the company in breach of applicable anti-money laundering and counter-terrorist financing requirements.
According to CySEC, the suspicions concerned possible violations of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007 (as amended) and the CySEC Directive for the Prevention of Money Laundering and Terrorist Financing. The announcement did not detail specific instances of non-compliance but clarified that the issues arose from preliminary findings indicating reasonable grounds to believe that violations may have taken place.
Details of the Settlement
CySEC and ASP Bridge Global Solution Services Ltd agreed on a settlement amount of €40,000. The company has already paid this amount in full. The settlement was reached under the framework provided by Article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, which empowers CySEC to settle any violation or possible violation where there is reasonable ground to believe it occurred.
CySEC’s use of settlement powers in this instance reflects its approach to addressing potential regulatory breaches related to money laundering and terrorist financing controls. The settlement mechanism allows the regulator to resolve matters arising from its supervisory and investigative work without pursuing further enforcement action, provided that the statutory conditions for settlement are met.
Regulatory and Financial Implications
Under the applicable legal framework, all settlement amounts agreed by CySEC are treated as revenue of the Treasury of the Republic. They do not constitute income for CySEC itself. In this case, the €40,000 paid by ASP Bridge Global Solution Services Ltd will therefore be directed to the Treasury rather than retained by the regulator.
The announcement underscores CySEC’s focus on ensuring compliance with the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007 (as amended) and its own directive on the same subject. While the specific deficiencies or suspected violations were not disclosed, the settlement highlights the regulatory scrutiny faced by entities subject to CySEC supervision in relation to anti-money laundering and counter-terrorist financing obligations.
