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Mr Savvas Rigas (Internal auditor/relevant person of CommexFX Ltd)

Announcement revised on 26.02.2026 The below decision of CySEC dated 13.2.2017 in relation to Messrs. Stavros Hadjikiriacou and Savvas Rigas, has been ANNULED by the Court. The act for each of the said persons disappears and should be considered as never has been issued. 8 June 2017 CYSEC Board Decision Announcement date: Regarding: 08.06.2017 Board decision date: 13.02.2017 AbdeI Rahman Alimari (Shareholder), Stavros Hadjikyriacou (Director), Anastasios Yiapanis (Director), Savvas Rigas (Internal auditor/relevant person), Vladimiros Germanos (Chief Financial Officer), Mohab Mohamed Taghian Radwn (relevant person), Amr Jamal Mohamed Hendawi [1][2](relevant person) (CommexFX Ltd) Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI144-2007-01 of 2012 Subject: Administrative sanctions Judicial Review: Press here Judicial Review Ruling: Press here The Board of the Cyprus Securities Exchange Commission (‘CySEC’) would like to inform the public that, following CySEC’s findings regarding the non-compliance of CommexFX Ltd (‘the Company’) with provisions of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (‘the Law’), and of Directive DI144-2007-01 of 2012 for the Authorisation and Operating Conditions of CIFs (‘the Directive’) which resulted to the wholly withdrawal of the Company’s authorisation (See CySEC’s Decision dated 6.4.2017), at the meeting held on 13.2.2017, has decided: 1. The imposition of: 1.1. an administrative fine of €150.000 to Mr AbdeI Rahman Alimari, as a person who acted as manager in the Company, 1.2. an administrative fine of €25.000 to Mr Stavros Hadjikyriacou, as executive director of the Company, 1.3. an administrative fine of €15.000 to Mr Anastasios Yiapanis, as executive director of the Company, for non-compliance with paragraph 9

(1)of the Directive.
  1. The imposition of: 1 2.
  2. an administrative fine of €50.000 to Mr AbdeI Rahman Alimari, relevant person to the Company, 2.
  3. an administrative fine of €50.000 to Mr Mohab Mohamed Taghian Radwn, relevant person to the Company, 2.
  4. an administrative fine of €50.000 to Mr Amr Jamal Mohamed Hendawi [1][2], relevant person to the Company, as the Company’s non-compliance with section 28
(1)of the Law, in regard to the authorisation and operating condition laid down in section 18
(2)(j) of the Law, was due to their fault, wilful omission and negligence.
  1. The imposition of: 3.
  2. an administrative fine of €10.000 to Mr Savvas Rigas, relevant person to the Company, 3.
  3. an administrative fine of €10.000 to Mr Vladimiros Germanos, Chief Financial Officer of the Company, as the Company’s non-compliance with section 28
(1)of the Law, in regard to the authorisation and operating conditions laid down in sections 18
(2)(f) and 18
(2)(
  1. j)of the Law, was due to their fault and negligence. 4. The imposition of: 4.1. an administrative fine of €20.000 to Mr Stavros Hadjikyriacou, 4.2. an administrative fine of €10.000 to Mr Savvas Rigas, 4.3. an administrative fine of €10.000 to Mr Vladimiros Germanos, for non-compliance with section 139 of the Law. Furthermore, at the same meeting, CySEC decided regarding: (
  2. i)Mr. AbdeI Rahman Alimari, to prohibit him from exercising professional activity related to the financial sector for a period of ten
(10)years, and (ii) Mr. Mohab Mohamed Taghian Radwn and Mr Amr Jamal Mohamed Hendawi [1][2], to prohibit them from exercising professional activity related to the financial sector for a period of five
(5)years. Full details/justification of the CySEC’s decision are/is available in the Greek text of the announcement. Em/ 2 3

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