CySEC Reminds Brokers to Report Personnel Changes on Time

[kreslik.news]

The Cyprus Securities and Exchange Commission published a new circular today informing its licensees that they need to adhere to the reporting terms outlined in Cypriot law. Cyprus Investments Firms (CIFs) and their management need to comply with the provisions related to personnel changes in a timely manner.

According to CySEC’s announcement, every CIF must notify the regulator and provide information adequate to assess the suitability of executive hires. The reputation of senior management is a cornerstone of the reputation of a brokerage company.


“The persons that effectively direct the business of a CIF must notify in writing ... (read more)