CySec Makes an Announcement ......

For those curious, Cypriot financial regulator CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term 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 Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term industry is hanging in the balance, a more proactive stance that could be used to comfort client worries may have been more appropriate.

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.