Cyprus’s securities regulator on Friday imposed a 650,000-euro ($730,800) fine on Germany’s Commerzbank for its role in transactions carried out by a local bank that collapsed during the country’s 2013 financial crisis.
The country’s CySEC commission said Commerzbank had been sanctioned over investment operations conducted by the now-defunct Laiki—also known as Cyprus Popular Bank—in 2011, following Laiki’s merger with Greece’s Marfin-Egnatia Bank.
