CySEC – Cyprus Securities and Exchange Commission

June 29, 2015 by in category Articles tagged as , , with 0 and 0
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The Cyprus Securities and Exchange Commission is a binary options regulating body also known as CySEC. This is the financial regulatory agency for the Cyprus Republic. CySEC is a subsidiary of the MiFiD regulations and has lured firms in other continents to register in Cyprus. Regulation through CySEC allows access to the firms registered under them to the rest of Europe.

Binary options and forex brokers are some of the companies that have taken the greatest chunk of the licenses the body has to offer. This is a great option these companies have taken since they are able to acquire licensing without the need to meet strict requirements that would be required by the European financial regulators but still qualify under the MiFID spectrum.

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CySEC was established according to section 5 of the Cyprus Securities and Exchange Commission La of 2001 as a public, corporate body. The CySEC is a body administrated by 5 members. These members constitute the Chairperson and the Vice Chairperson who offer their services in complete and exclusive employment. The other three members of the board are a representative to the Governor of the Central Bank and are tasked with the duty of recording subjects in the agenda and participate in discussions but have no right to vote.

All the members are named by the ministers’ council after a proposal by the Minister of Finance and they should offer their services for a 5 year term. This term is renewable for a term of five more years.

What duties are entrusted to Cyprus Securities and Exchange Commission?

  • One of the duties is to oversee and control all operations of the stock exchange and transactions that are carried out in the stocks markets.
  • Another duty is on the supervision and control of licensers to securities listed on the stocks exchange, collective investment schemes and licensed investment services firms.
  • They also have the mandate of performing inspection on companies whose securities are traded on the stock exchange, investment consultants, companies in mutual fund industries and brokerage firms.
  • Request all information they wish in writing from all natural and legal organizations that are taken to be in custody of the information needed.
  • They are supposed to offer licenses of operations to investment firms, consulting companies, brokerage firms and brokers.
  • They have the mandate to recall the operation licenses as they wish on reasons they term solid according to the Law of Establishment of the CySEC.

All you need on CySEC website

Cyprus Securities and Exchange commission has a responsive website that has all the information you need towards making solid investment decisions, as well as, know about new regulations that they pass. You will also come across news and policies passed by the MiFID as well as the European Securities and Markets Authority (ESMA).

As you go about your binary options trading, you may wish to know whether your market is regulated by the CySEC or the broker you are using has received a license from this regulating body. This will be an easy task since their website has all the relevant information you may need on this.

Visit CySEC official website

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