Analysis: Will CySEC Really Ban Brokers from Soliciting Non-EU Clients?

[kreslik.news]

As reported today by Finance Magnates, a routine meeting between the Cyprus Securities and Exchange Commission (CySEC) and executives of 400 Cypriot investment firms took a hostile turn after the regulator’s chairwoman reportedly took a more cursory tone with the firms she regulates.

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According to sources in the meeting, Ms. Demetra Kalogerou made some remarks that may have a potentially dramatic effect on how brokers in Cyprus conduct their business. Specifically, she warned that “Cysec will not allow marketing to third countries (out of the EU) without legal opinion.”