Brussels, 07/10/2013 (Agence Europe) - The Bank of Cyprus (BoC), the country's biggest bank, was fined a total of €160,000 on Friday 4 October by CySec, the country's stock exchange watchdog, for failing to tell shareholders about the risks underlying its investment in Greek bonds in 2010.
In 2010, BoC decided to buy €2.4 billion of Greek bonds, rated BB+ (junk bonds) by Standard and Poor's, at a time when the bank's own capital was only €2.5 billion, explains CySec.
The former head...