Widely known as CySEC, The Cyprus Securities and Exchange Commission corresponds to a regulatory body in the sphere of financial relations in the Republic of Cyprus.
When in 2004 the Republic of Cyprus was included into the number of European Union members, the CySEC became a part of European regulatory system MiFID. Since that time all the companies that have been registered in this Republic have been given access to the markets of Europe.
The CySEC watches that the Cyprian investment firms strictly followed financial instructions according to the legislation and the normative base of Cyprus and European Union. CySEC is a public body which supervises actions and the operations performed at stock exchange.
The incomplete list of obligations CySEC:
- Supervises activity of the licensed investment companies
- Observes activity of brokers and the broker companies
- Gives out current licenses to investment companies