The Cyprus Securities and Exchange Commission (CySEC) has disclosed an update to its whistleblower procedures and overall requirements, detailing a series of clarifications and etiquette, per a circular filing.
To unlock the Asian market, register now to the iFX EXPO in Hong Kong.
Whistleblowing has become a staple of multiple regulatory regimes, namely those of the US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), among others. Regulatory entities have deployed multiple programs and granted awards to individuals in a bid to help support and streamline investigations.
TrioMarkets Partners with HokoCloud, Expands its Portfolio with Social TradingGo to article >>
In terms of CySEC, the regulator has unveiled a Whistleblower External Disclosure Form, which can be submitted directly to its Department of Market Surveillance and Investigations. In the form, individuals are directed to outline any and all episodes of market abuse and infringement, disclosing any names or pertinent information relevant to any investigatory measures.
Moreover, the manifest clarifies a number of key points and subjects regarding the form, effectively presenting a comprehensive framework for providing information as a whistleblower to CySEC.
The role of the Department of Market Surveillance and Investigations will also be responsible for providing any person with information on procedures for reporting infringements, as well as receiving and following up reports on the strength of this information. Finally, the department will also help maintain contact with the reporting person, whilst maintaining the informant’s anonymity.
The entire document and list of procedures can be accessed by the following link.