Name: Cyprus Securities Regulatory Commission
Abbreviation: Cyprus (CySEC)
The Cyprus Securities and Exchange Commission, the full English name of Cyprus Securities and Exchange Commission, and the English abbreviation “CySEC”, is the financial regulatory agency in the Republic of Cyprus. The Cyprus Securities and Exchange Commission (CySEC) is a public legal entity established under Article 5 of the Securities and Exchange Commission (Establishment and Liability) Act 2001. CySEC is an independent public regulatory agency responsible for overseeing the investment services market, transferable securities transactions in the Republic of Cyprus, and collective investment and asset management departments. It also supervises companies that provide administrative services, which are not supervised by ICPAC and the Cyprus Bar Association.
Cyprus is a geographically Asian island country that belongs to Europe and is located in the eastern Mediterranean. It officially became a member of the European Union on May 1, 2004. Cyprus’ financial services industry is very developed and occupies an important position in its tertiary industry. According to Part 5 of the 2001 Establishment and Responsibility Act, Cyprus established the Cyprus Securities and Exchange Commission (CySEC), which is a public legal entity in nature. Through CySEC, securities, foreign exchange, and some other financial products are supervised. Cyprus has made continuous efforts to create a good financial environment. CySEC issued a document on June 17, 2009, requiring brokers to “must submit an application to CySEC and be certified by the Cyprus Investment Corporation (CIF) before they can continue to conduct foreign exchange transactions.”
Since Cyprus joined the European Union in 2004, the Cyprus Securities Regulatory Commission (CySEC) has become an important part of the EU’s Markets in Financial Instruments Directive (MiFID). As long as a company is registered in Cyprus, it can enter all European markets. More and more overseas companies choose to register in Cyprus, the most obvious of which is that more and more brokers in the overseas retail foreign exchange industry choose to obtain regulatory qualifications from the Cyprus Securities Regulatory Commission (CySEC).
After joining the European Union, Cyprus drastically changed its financial regulatory framework in 2004, and the Cyprus Securities and Exchange Commission (CySEC) completely got rid of the image of a “tax haven” in the past. According to the recommendations of the European Union, from 2007 to 2010, the financial regulatory framework of Cyprus has undergone qualitative changes, which is refreshing.
Supervised company XM, FxPro Puhui
Investor Compensation Fund (Investor Compensation Fund), all CySEC registered “investment companies”, must participate in the Investor Compensation Fund. When the investment company goes bankrupt or fails to fulfill its financial responsibilities, each retail customer will receive a compensation of up to 20,000 Euros.
Introduction to Regulators
The Cyprus Securities Regulatory Commission (CySEC) was established in 2003. Through CySEC, securities, foreign exchange, and some other financial products are supervised. Cyprus has made continuous efforts to create a good financial environment. CySEC issued a document on June 17, 2009, requiring brokers to “must submit an application to the CySEC committee and obtain certification from the Cyprus Investment Corporation (abbreviation: CIF) before they can continue to conduct foreign exchange transactions.”
Supervise securities, foreign exchange, and some other financial products through CySEC
How to complain
32 Stasikratous Street, 4th Floor 1065 Nicosia Telephone: + 357 22 506 600 Fax: + 357 22 754671 General: firstname.lastname@example.org UCITS Department: email@example.com UCITS Notifications: firstname.lastname@example.org .cy Investment Firms Department: email@example.com Law Department: firstname.lastname@example.org Information Technology Department: email@example.com Complaints: firstname.lastname@example.org TREM Issues: trem@ cysec.gov.cy CRD Issues: email@example.com
How to check
How to regulate
The Cyprus Securities Regulatory Commission (CySEC) has relatively strict supervision of the foreign exchange retail industry. Since Cyprus is a member of the European Union, it has adopted the European Union’s “Markets in Financial Instruments Directive” (MiFID) for short. Financial institutions that are formally registered by financial regulatory agencies can obtain the authorization of the British FSA, obtain the FSA registration number, and then can accept British customers.