Cyprus
Cyprus Securities and Exchange Commission (CySEC)
https://www.cysec.gov.cyThe Cyprus Securities and Exchange Commission (CySEC) is one of the most significant financial regulators in the EU for investment fraud cases. Cyprus has been a popular jurisdiction for the registration of investment firms (particularly forex and CFD brokers) due to its EU membership, favourable corporate tax regime, and relatively streamlined authorisation process. While many legitimate firms operate from Cyprus under CySEC authorisation, the jurisdiction has also been associated with a significant number of firms that have subsequently been found to be operating in breach of their authorisation conditions or have had their licences withdrawn.
How to File a Complaint
CySEC accepts complaints online through its website at cysec.gov.cy under the "Complaints" section.
Complaints can be submitted in English or Greek.
For complaints about CySEC-authorised firms, CySEC will assess whether the firm has breached its regulatory obligations.
For reports about unauthorised entities claiming to be CySEC-authorised, provide the firm's claimed CIF licence number, website, and all supporting evidence.
CySEC publishes regular announcements about firms whose authorisation has been suspended or withdrawn.
The Cyprus Financial Ombudsman handles individual disputes with authorised financial firms.
Register & Verification
CySEC maintains a publicly accessible register of Cyprus Investment Firms (CIFs) at cysec.gov.cy. Each authorised firm has a CIF licence number that can be verified. Check whether the firm's licence is active, suspended, or withdrawn, and verify the specific services it is authorised to provide.
Key Regulations
- Investment Services and Activities and Regulated Markets Law -- Cyprus implementation of MiFID II.
- Alternative Investment Fund Managers Law -- implementing AIFMD.
- Prevention and Suppression of Money Laundering Activities Law -- implementing AMLD.
- CySEC Directives -- detailed regulatory requirements for CIFs.
Typical Timelines
CySEC typically acknowledges complaints within 2-3 weeks. Investigations into authorised firms may take several months. CySEC has the power to impose administrative fines, suspend or withdraw authorisation, and refer matters for criminal prosecution. Warning publications can appear relatively quickly when multiple complaints are received.
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