The Cy SEC aims to supervise and control the operation of financial trading markets and the transactions conducted within these markets. Cy SEC may
- • Supervise the issuer of securities and list them on the Cyprus Stock Exchange
- • Check brokers, companies, investment advisors, and mutual fund management companies
- • Issuing business licenses to brokers, brokerage firms, investment companies, and consultants
- • Revoke license for necessary actions
- • Punitive sanctions will be imposed on investment advisors, brokers, and any other institutions authorized by Cy SEC
Investment Services:
Auxiliary services:
EU directives, regulations, and membership
Market for Financial Instruments Directive II (MiFID II) and Market for Financial Instruments Regulations (MiFIR)
The MiFID II Directive on Markets in Financial Instruments (Directive 201465 EU) came into effect on January 1, 2018, with the aim of regulating the financial instruments market and providing investment services and activities within the European Economic Area (EEA). This directive was formulated through the law passed in Cyprus, which regulates the provision of investment services, investment activities, operation of regulated markets, and other related matters (Law No. 87 (I) 2017). The main objectives of the EU's Markets in Financial Instruments Directive (MiFID II) are to improve efficiency, increase financial transparency, promote competition, and effectively protect consumers. MiFID II also allows investment firms to provide investment and ancillary services within the territory of another member state and/or a third country, provided that these services are provided by the investment firm.
Investor Compensation Fund (ICF)
Lydya Financial Ltd is a member of the Investor Compensation Fund (ICF), which aims to protect qualified retail clients by paying compensation in the event that the company fails to repay funds and/or financial instruments due to financial issues.