Representation before Regulatory Authorities
Cyprus Securities and Exchange Commission (CySEC) was established in accordance with section 5 of the Cyprus Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public corporate body. CySEC is the primary regulating body in Cyprus, playing a significant role in the supervision, authorization and monitoring of Cyprus Investment Firms. In order for a company to qualify as an Investment Firm it must mandatorily be granted authorization by the competent authority.
The Cyprus Securities and Exchange Commission has the following responsibilities:
1. To supervise and control the operation of the Stock Exchange and the transactions carried out in the Stock Exchange.
2. To supervise and control the issuers of securities listed on the Stock Exchange, the Licensed Investment Services Companies as well as the Collective Investment Schemes.
3. To carry out inspections over companies, the securities of which are listed on the Stock Exchange, over brokers and brokerage firms, investment consultants, mutual fund management companies.
4. To request and collect information necessary for the exercise of its responsibilities, to demand in writing the provision of information from all natural or legal persons or organisations that are considered to be in a position to provide such information.
5. To grant operation licenses to investment firms, including investment consultants, brokerage firms and brokers.
6. To recall these operation licenses for special reasons, as it is more specifically determined in Regulations that are published in accordance with the Law of Establishment of the Cyprus Securities and Exchange Commission.
7. To impose administrative sanctions and disciplinary penalties to brokers, brokerage firms, investment consultants as well as to any other legal or natural person who falls under the provisions of the Stock Market legislation.
The sanctions sought by the Cyprus regulatory authority, namely the Cyprus Securities and Exchange Commission (CySEC) as a result of fraud and misconduct can be severe, including expulsion, job loss, suspension, significant fines, and possible criminal charges. Our firm provides an aggressive defense against allegations of misconduct acting as representatives in disciplinary negotiations before CySEC or if needed taking legal measures against administrative decisions of the Commission to safeguard clients interests.
If you are concerned about a potential prosecution involving the CySEC and are searching for a lawyer who can provide clear, reliable legal advice on a range of related issues, as well as a prompt and detailed assessment of your case, contact P. N. Kourtellos & Associates Fraud and Business Crime department.