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The Abu Dhabi Global Market (ADGM) has imposed a total fine of $12 million on HAVYN Group and its director Christopher Flinos for serious regulatory breaches, including operating as an unlicensed investment company and submitting false financial statements. Flinos faces a 15-year disqualification from directorship, while the Financial Services Regulatory Authority (FSRA) highlighted significant misconduct, including inadequate operational systems and misleading information during investigations.
The Abu Dhabi Global Market (ADGM) has imposed fines totaling $12.5 million on Hayvn entities and revoked their licenses due to unauthorized virtual asset activities. CEO Christopher Flinos has been permanently banned from financial services in ADGM for directing these activities and submitting false documents. The enforcement actions, which included penalties from both the Financial Services Regulatory Authority and the Registration Authority, aim to uphold the integrity of ADGM's regulatory framework.
Christopher Flinos
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
adgm fines havyn group and director for serious regulatory breaches
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10:51 14.04.2025
adgm imposes 12.5 million fine and bans hayvn ceo for misconduct
09:08 14.04.2025
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