Cyprus Securities and Exchange Commission (CySEC)
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Thread: Cyprus Securities and Exchange Commission (CySEC)

  1. #1
    Super Moderator Gulfstream's Avatar
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    Jan 2013

    Cyprus Securities and Exchange Commission (CySEC)

    Cyprus Securities and Exchange Commission

    Cyprus Securities and Exchange Commission or CySEC (the "Comission") - is an independent public organization, wich responsible for the supervision of the investment services market and securities market in the Republic of Cyprus from 2001.
    Office Address - 27 Diagorou Str., Nicosia, Cyprus
    Telephone:+357 22506600
    Fax:+357 22506700

    The mission of the CySEC is to exercise effective supervision to ensure investor protection and the healthy development of the securities market.

    The CySEC goal is to establish the Cyprus securities market as one of the safest, most reliable and attractive destinations for investment.

    To achieve this goal and perform the core mission, CySEC has a number of tasks assigned to it:

    • To examine applications and grant operating licenses to entities under its supervision, as well as to suspend and revoke the said licenses.
    • To scontrol and regulate the operation of the Cyprus Stock Exchange and of other organised markets in the Republic and the transactions carried out in these markets.
    • To supervise and regulate the agencies under its supervision in order to ensure their compliance with the laws governing their operation.
    • To take all necessary measures in order to adequately carry out its activities;
    • To request and collect information which is necessary or conducive to the exercise of its duties.
    • To impose the administrative and disciplinary sanctions provided by the law.
    • To require the cessation of practices which are contrary to the securities market laws.
    • To apply to a competent court for the issue of an order for detention, or charge or freezing or prevention of alienation or transaction involving assets.
    • To issue regulatory Directives and Decisions.
    • To cooperate and shares data (information) with other state authorities, foreign regulatory authorities and competent organizations;
    • performs other tasks and obligations assigned to it.

    Since Cyprus is a member of the European Union, CySEC has worked closely with other foreign regulators, and takes an active part in European and international affairs, thereby ensuring that not only Cyprus but also of European legislation in general.

  2. #2
    Super Moderator Gulfstream's Avatar
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    The structure of the Commission

    The structure of the Commission consists of ten members of its departments (divisions):

    1. Board - headed by CySEC.It is administered by a five-member Board, consisting of the Chairman and Vice-Chairman and three additional nmembers. Council meetings are also attended by representatives of the Central Bank of Cyprus, which can contribute to the agenda of the individual issues and to express their opinion for various situations. However, the right to vote, the representative does not have. All the are appointed by the Council of Ministers following a proposal of the Minister of Finance for five-year term.
    2. Internal Audit Unit - The activities of this unit is aimed at increasing the value and improving the functions of the securities, as well as the proper operation of stock exchanges.
    3. The Department of Strategy and International Relations is responsible for strategic planning for promotion activities of the securities market at an international level.
    4. The department of Issuers is responsible for the supervision of compliance of the companies that have issued or intend to issue securities that have been admitted, or expected to be admitted for negotiation on a regulated market with their obligations.
    5. The Authorisations Department is responsible for examining applications for granting licenses and decides whether to renew the license.
    6. The Supervision Department - supervision of organisations licenced by the CySEC for the purpose of their compliance all applicable rules and regulations. Controls issues such as the prevention of money laundering and terrorist financing, capital adequacy, compliance with their legal requirements, etc.
    7. The Department of Market Surveillance and Investigations is primarily responsible for receiving complaints and their investigation, to conduct investigations on own initiative, to conduct investigations on behalf of a foreign Supervisory Authority and to issue warnings about companies which provide investment services in the Republic without being licensed by the CySEC.
    8. The Legal Department monitors of the legislation on securities market, prepare and submit proposals to amend the relevant legislation.It provides legal support for cases related to securities and stock exchanges, as well as submit opinions / answers to all arising matters. Also, the Department is responsible for the harmonisation of the legislation with the EU regulatory framework.
    9. The Administration and Personnel Department provide general office administration, book-keeping and accounting, budgetary functions and offers, monitoring the observance to the personnel rules, personnel training issues and other.
    10. The Department of Information Technology and Operations is responsible for managing and upgrading the infrastructure systems of CySEC.

    Annually CySEC provides the Minister of Finance reports on their accounts and activities (annual report).

  3. #3
    Super Moderator Gulfstream's Avatar
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    The regulated entities by CySEC are:
    • Investment firms;
    • UCITS & Management companies;
    • Allternative Investment Fund Managers (AIFM);
    • Alternative Investment Fund (AIF);
    • Administrative Service Providers (ASP);
    • Issuers.

    To obtain the CySec license the company must:

    • meet the requirements stipulated by law ( have a properly registered a company in Cyprus, the required share capital, competent managers and relevant staff, be a member of a investors compensation fund – ICF and other).
    • complete an application form;
    • to calculate the amount of fees to be paid under the current rates;
    • pay the fee and submit an application with all necessary documents;
    • if its necessary, to respond to additional questions of the Commission.

    The application is considered by the Commission within 6 months from the date of its submission.

    All licensed comanies are included in table of Regulated entities. Each table contains information such as:
    • company name;
    • Licence number& License Date;
    • Company Registration Number;
    • Telephone/fax;
    • E-mail.

    In the table includes as company with a valid license and the companies that these licenses have been withdrawn (there is the mark near the license number).

    Withdrawal of licenses, as well as the imposition of administrative fines occur based on Board decisions.

    On the Commission official website there is a page for "Announcements", on which investors can find a list of unauthorized firms, as well as the reasons for which these companies were on the list.

    As for the protection of investors, it is carried out through a review of complaints received from investors and to take appropriate decisions on them. The investor may submit a complaint against a CySEC licensed companies, and/or against non-regulated companies. Complaint forms are available on the official website of the Commission.

    Licensed companies can be disciplinary or administrative fined depending on breach character. It can be even up to suspension and / or license withdrawal. The procedure for applying sanctions is provided by the current legislation of Cyprus.

  4. #4
    Super Moderator Gulfstream's Avatar
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    Another possibility to solve the issue can be an applying to the Investor Compensation Fund (ICF).
    The fund provides compensation to the insured clients of the company-member of ICF and registered in CySEC. However, it should be noted that compensation payments are made only when a member of the Fund can not independently meet its obligations to customers.
    Inability of a member of the Fund to fulfill its obligations to customers is defined based:
    • Decisions of CySEC, which refers to the inability of the licensee, due to its financial situation, which has no prospect of improvement in the near future, to fulfill their obligations;
    • Court decisions, which temporarily suspended the ability of investors to submit claims against the company - a member of the Fund, due to the current company financial circumstances;
    • Applications of the member of the ICF regardng of it`s inability to to fulfill obligations to its customers.
    Compensation is paid only to retail customers who carry out transactions on its own name and in their interests. Professional clients, and authorized counteragents are not eligible for payments from the Fund.
    The calculation of compensation is based on provisions governing the relationship between the customer and the company - a member of the Fund. Howewer, the maximum amount of compensation paid to applicants, who will be deemed as eligible for compensation, is twenty thousand EUR.
    You can learn more details about the activity of The CySEC on its official website - _

  5. #5
    Well there are plenty of ways you can make money in the forex market where let it be stocks forex or futures and also with securities such as government bonds and all. But if you plan things the right way you can make millions. So try for that and risk less.

  6. #6
    There are so many more forex brokers who are registered with Cyprus Security and exchange commission and the number appears to be more and higher than those registered and regulated by NFA(National futures Association). Could it be that the condition of registration and regulation in CYPRUS is a bit relaxed compared to those similar bodies in America and UK ? Can a retail trader makes a report of foul dealing of any broker with a proof that cannot be denied

  7. #7
    Registered user mohamed reda's Avatar
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    Aug 2013
    I think all brokers that is reguled under cyces is not safe so I did not like to trade under This brokers so I prefer using the British brokers because that is the safest brokers all over the world

  8. #8
    Join Date
    Aug 2013
    this organization is one of the most famous organizations as many brokers are regulated under it and so it gives more strength for the brokers, but the opinion about its strength because some brokers and traders say it is good and strong organization and some traders say it is not strong enough and the client may not have his rights from bad brokers

  9. #9
    This is one of the organization that have been tasked to recommend regulations for the Broker that who would be there for before making clients deposit money on that's Said broker they have been working with both binary options brokers and and forex trading brokers

  10. #10
    Join Date
    Jul 2016
    I think these is the regulatory body of the world and it is the best for every body who knows how to understand it its better for any one to really be well informed of some reasons we know out there we have to work in regulators we know out there these is to form security in trading forex

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