Do not invest more money than you can afford to lose.
The Cyprus Securities and Exchange Commission (CySEC) said on Thursday it has launched a Web Portal where Cyprus Investment Firms (CIFs), forex and binary option brokers included, can submit digitally signed documentation to the regulator. The TRS digital submission system that is currently used by licensees will continue to exist and in the future will be incorporated to the new Web Portal to form a single electronic data system. The portal is accessible for CIFs, but it will soon be made available to other CySEC-regulated entities.
CySEC licensees can use the portal, portal.cysec.gov.cy, to upload and submit to the Cypriot regulator files and documents in a digital format and to check the status of their documents. The list of pre-determined acceptable documents will be expanded with time, the regulator said without specifying what types of documents it contains. However, entities have the option to upload files that do not fall under the acceptable documents category in the form of free text.
To access the Web Portal, CIFs have to use their CySEC license number and the password code they use to log into the TRS system. They will also need a valid digital certification, which is issued annually. The regulator noted that licensees should renew expiring certifications at least seven days before their expiration date, or they will not be granted extension.
The CySEC said that it will no longer accept alternative methods for document submission (ie fax, email, post, messenger) for files that can be sent via the Web Portal.
“The Commission expects that all the forms/documents/letters of CIFs will now be submitted via the Portal or via the TRS system (where this is applicable),” the regulator said in the statement.
The CySEC licenses, supervises, and regulates players on the local capital market. Its managing board consists of five members, each one of which serves a term of five years.
Source: CySEC
