For those curious, Cypriot financial regulator CySec wants you to know that they are “closely monitoring” the financial situation in Cyprus and made an announcement to let everyone know this. You can see the entire post below, but other then letting us that they aware there is a problem going on in Cyprus, they aren’t saying much. Apparently, after receiving numerous emails an phone calls, CySec felt that they had to make some sort of formal response.
While it can be appreciated that the regulator is providing communication, knowing that the fate of the country’s forex industry is hanging in the balance, a more proactive stance that could be used to comfort client worries may have been more appropriate.
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Should they have said more, or at this point is there really not much they can do and they are spectators as well? Let us know what you think in the comments
We would like to inform all the interested parties, that the Cyprus Securities and Exchange Commission (‘the Commission’) is closely monitoring the developments regarding the efforts for easing the financial crisis and how the potential decisions are affecting the market and the supervised entities.
The Commission highlights that the interested parties will be informed in case there is any new and final development. The Commission remains at the disposal of the supervised entities, in order to respond/assist them with any questions/problems that may arise.