CySec announcement on legal enquiries 

The Cyprus Securities and Exchange Commission (CySec), has issued a press release following its previous announcements of 1.11.2007 and 5.5.2010, and reminding all interested parties that, although it is an administrative body and has no obligation to provide legal opinions, is always keen to provide assistance and guidance to interested parties in the course of application and enforcement of the legislation/directives that relate to CySEC.

The Commission wishes to remind all interested parties that legal enquiries should ONLY be addressed in writing to legal@cysec.gov.cy

Furthermore, and with the aim to reduce the number of enquiries, interested parties are advised, before submitting any queries, to:
— study the relevant legislation,
— study the related questions and answers (FAQs) and any relevant Commission’s
announcements, all posted on the Commission’s website
— discuss the issue in question with their legal advisors.

In this way valuable time will be saved and a better and more productive use of the above Commission’s facility will be managed. It is noted that a great amount of queries received, are of a general nature and/or their reply may be found in the
actual text of the related legislation/directive or on the Commission’s website.

The Commission will aim replying to questions regarding the specific application of an article of the relevant law/directive and not those whose answer is in the relevant law/directive or on the Commission’s website (FAQs or Announcements).

The reply period is, at least 10 – 15 days and interested parties are kindly requested not to send any reminders or call prior to the expiration of that deadline.

In order to be able to efficiently assist you we kindly ask for your cooperation and understanding with the above.

 

Source: CySec

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