In recent years, the Cyprus Securities and Exchange Commission or CySEC has evolved from a local regulator into a full member of the Euro-zone area.
The CySEC was established in 2001 and initially the major purpose of the act was to put the activities of companies engaged in investments and securities area under careful monitoring exclusively in Cyprus. With this in mind, the organization ticked along coping effortlessly with the task at hand up until 2004. It was the year when Cyprus became a part of the European Union. From then onwards, the empowerment of CySEC have expanded considerably if for no other reason than because the sphere of the influence of the department has spread far beyond Cyprus. Most significantly, the terms of influence of the organization includes now issuing licenses to companies conducting their businesses in all countries of the EU.
Here are some of the duties assigned to the CySEC:
Only those companies who have in store over three years of smooth activities in the financial market can hope to obtain a license from the Cyprus Securities and Exchange Commission. Moreover, there is an impressive list of requirements imposed on applicants desiring to obtain a CySEC license, and not everyone can easily meet those.
According to the general estimation, all complaints on fraudulence addressed by the clients were successfully resolved by the Commission within the shortest possible time. One should expect it to take about a month required in order for a decision to be made on punishment of a company.
In view of the above, we can draw a fair conclusion that the CySEC is justifiably one of the most popular regulators all over the world with an impressive queue of companies eager to obtain the license. Thus, we can conclude that the confidence level among traders with this organization is very high.