CySEC revises previous decision on Veles International Ltd

12:00 - 28 June 2024

Financial Services

Following a previous announcement dated 10 April 2024, the Cyprus Securities and Exchange Commission (CySEC) has informed the public that, at its meeting held on 10 June 2024, it decided to revise its decision dated 19 March 2024, regarding the measures taken in order the influence exercised by Dmitry Vitalyevich Bugayenko, as the sole direct shareholder of the company Veles International Ltd, not to be prejudicial to the sound and prudent management of the CIF, as follows:

To extend the period for the entry into force of the measures, from 12 months to 24 months.
That the measure of the prohibition of exercising management duties on the Board of Directors of the CIF not to include Ganna Dotsa. The CySEC revised its decision after taking into account the explanations provided by the CIF and Ganna Dotsa and considering the return of the funds and financial instruments to the investors, it said.

CySEC revises previous decision on Veles International Ltd

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