All you need to Know about CySec’s Exams 2014 – Analysis by GP GLOBAL LTD
All you need to Know about CySec’s Exams 2014 – Analysis by GP GLOBAL LTD
When will the Cyprus Securities and Exchange Commission (CySEC) Exams 2014 take place?
According to a recent press release issued by the Commission, the certification exams are planned to take place in September 2014.
Who are required to pass the Exams?
The Cyprus Securities and Exchange Commission (CySEC) will organize two independent examinations:
a) the Basic Examination and
b) the Advance Examination
Basic Examination is a requirement for persons who wish to be certified in order to be able to work in a Cypriot Investment Firm (CIF) or credit institutions, which have obtained an operational licence in the Republic, to provide the investment services or to perform the investment activities mentioned below:
a) Reception and transmission of orders in relation to one or more Financial Instruments
b) Execution of orders on behalf of client
Also Basic Examination is a requirement for persons who wish to be certified in order to be able to work in a Management Company, or Investment Company of Variable Capital which has obtained an operational licence in the Republic, or to persons who enter into a contract with the UCITS Management Company for the marketing of UCITS units in the Republic, or to their representatives established in the Republic in order to provide the following services:
a) Marketing of Collective Investment Schemes.
Advance Examination is a requirement for persons who wish to be certified in order to be able to work in a Cypriot Investment Firm (CIF) or credit institutions, which have obtained an operational licence in the Republic, to provide the investment services or to perform the investment activities mentioned below:
a) Reception and transmission of orders in relation to one or more Financial Instruments;
b) Execution of orders on behalf of clients;
c) Dealing on own account;
d) Portfolio Management;
e) Investment Advice;
f) Underwriting of financial instruments and/or placing of financial instruments on/without a firm commitment basis;
Also Advance Examination is a requirement for persons who wish to be certified in order to be able to work in a Management Company, or Investment Company of Variable Capital which has obtained an operational licence in the Republic, or to persons who enter into a contract with the UCITS Management Company for the marketing of UCITS units in the Republic, or to their representatives established in the Republic in order to provide the following services:
a) UCITS investment management;
b) marketing of UCITS or other Collective Investment Firm units;
c) investment management by virtue of article 109(4)(a) of the UCITS Law;
d) provision of investment advice for one or more financial instruments by virtue of article 109(4)(b) of the UCITS Law;
What is the structure of the Exams?
Both Exams, Basic and Advance, will be Computer Based Testing.
Basic examination is a 1-hour examination consisting of 50 multiple choice questions, having 4 options each. Candidates may have, in addition, up to 10% of additional questions as trial questions that will not be separately identified and do not contribute to the result. Candidates will be given proportionately more time to complete the test.
Advance examination is a 90-minute examination consisting of 70 multiple choice questions, having 4 options each. Candidates may have, in addition, up to 10% of additional questions as trial questions that will not be separately identified and do not contribute to the result. Candidates will be given proportionately more time to complete the test.
Is it a requirement to pass first the Basic Examination and then the Advance?
No, there are two independent exams and there is no requirement to first pass the Basic and then the advance.
What is the maximum number of candidates that can take the exams in each seating?
As explained by the Cyprus International Institute of Management (CIIM) representative, in a recent presentation, there are only 15 slots for each seating.
How frequent will the exams be organized?
As explained by the Cyprus International Institute of Management (CIIM) representative, in a recent presentation, the exams will be organized every Tuesday at 11:00 am and 1:30 pm. It is estimated that about 250-300 candidates will be able to take the exams till the end of 2014.
Where will the Exams take place?
The Exams will take place only at CIIM premises in Nicosia, Cyprus
Will be given any priority to persons already employed in a CIF?
Yes, as the Chairwoman of the Commission, Mrs. Demetra Kalogerou explained in a recent presentation, priority will be given to persons that are already employed in Investment Firms, Credit Institutions, Management Companies and Investment Companies of Variable Capital due to temporary exception granted from the supervisory authorities (in accordance to article 52(20 of the Law 144(I)/20007). It was noted that if such a person does not gain the certification within a reasonable time-period (12 months) will have to be replaced.
What are the fees associated with the CySEC certification exam?
As per paragraph 9(1) of CySEC’s Directive regarding the Certification of persons and the public register, candidates are obliged to pay to the Commission examination fees of two hundred euro (€200) for the basic examination and three hundred euro (€300) for the advanced examination.
Does GP GLOBAL LTD offer preparation courses for CySEC’s Exams?
GP GLOBAL LTD in collaboration with, MEERKAT CITY, 360 CONSULTING, and other prominent industry professionals are co-organizing the exam preparation courses for the certification of persons employed in the Cyprus financial services sector.
We believe that the wealth of multi-disciplinary & hands-on experience of the organizing parties (covering pragmatically all aspects of the applicable legislation) gives rise to courses that are mostly resourceful and industry-focused, and can help attendees to succeed at the relevant exams and in their professional engagement in the industry.
How long does GP GLOBAL LTD offer preparation courses for CySEC’s Exams?
GP GLOBAL LTD offers preparation courses for both Minister of Finance (the authority organizing the exams up to 2011) and CySEC’s Exams since 2003.
Where can details of GP GLOBAL’s LTD preparation courses be found?
Detail of GP GLOBAL’s Ltd preparation course can be found at company’s website: http://www.gpglobalcy.com/default.aspx?articleID=1202
Also by downloading relevant CySec’s Preparation courses brochure. Persons who are interested to attend the courses are welcome to register by completing GP GLOBAL’s Registration Form.
Who are the Instructors and what are their qualifications?
Preparation courses will be offered by five well qualified instructors with many years of hands-on experience as well as training experience to the financial industry.
Relevant Experience in Financial Industry
- Limassol area Manager of a CIF
- Head of Brokerage of a CIF
- Compliance/AML Officer of a CIF
- Internal Auditor of a CIF
- General Manager of a CIF
- Director of a CIF
Short CV
George Papanicolaou has an MBA with specialization in Finance. He has 14-years experience in the financial industry. He worked for several years in managerial positions, Limassol area Manager, Head of Brokerage, Compliance/AML Officer, General Manager and Director in Cypriot Investment Firms. He is currently the Managing Director of GP GLOBAL LTD offering consulting services and training courses to Investment Firms, focuses in compliance & AML issues. He offered numerous courses/seminars both in Cyprus and abroad in Investment Firms Law as well as in Compliance & Anti Money Laundering. He has “ICA International Diploma in Anti Money Laundering” and he is a Fellow of the International Compliance Association (FICA).
Relevant Experience in Financial Industry
- Head of Asset Management of a CIF
- Head of stockbrokers of a CIF
- General Manager of a CIF
- CEO of a CIF
- Head of Compliance & AML Cyprus-Greece, Deutsche Bank AG
Short CV
Gabriel Styllas has a B.A Economics (Honours) with Specialisation in Accounting and Finance and an MSc in International Banking and Financial Studies. He has 18 years experience in the financial industry, both at Banking and Investment Firms (EPEY) sections. Gabriel started his career with Bank of Cyprus Factors Ltd where he worked for 4 years as a Head of the Business Division (Limassol & Paphos). He then spent 14 years in managerial positions in Investment Firms. He worked as Head of Asset Management Dept., Head of stockbrokers and General Manager. He was the Head of Compliance & AML Cyprus-Greece, Deutsche Bank AG. He is currently the CEO of TopFx. He offered numerous courses/seminars in Investment Firms Law as well as in Compliance & Anti Money Laundering.
Relevant Experience in Financial Industry
- Board of Directors of CIFs
- Internal Auditor of CIFs
- Compliance/AML Officer of CIFs
- Risk MAnager of CIFs
- Chief Operating Officer
- Member of Investment/Risk Committees
Short CV
Mr. Yiannos Christofides holds a Bachelor’s degree in Finance & International Business from Florida Atlantic University, and a graduate in MSF (Master of Science in Finance) with Honors from Florida International University. He also holds Advance Certificates of professional competence from the Cypriot Ministry of Finance.
Over the years, Mr. Christofides has gained wealth of knowledge and excellent understanding of the financial industry throughout his deep interaction with regulated and established financial services firms offering the full range of investment and ancillary services in both Equity and FX markets.
Relevant Experience in Financial Industry
- Compliance/AML Officer of CIFs
- Risk Manager of CIFs
Short CV
Dr. Marios Charalambides was awarded a PhD degree in Social Sciences from Brunel University, London, in 1998. His research was focused on the price performance of Initial Public Offerings (IPOs) in the UK.
Following a year in academia, Dr. Charalambides joined Laiki Investments in 2000 as a Research Analyst, primarily responsible for preparing buy-side research and analysis reports on global and domestic exchange traded companies. His responsibilities also included the development of database, valuation and reporting models which included, development of macroeconomic variables (assumptions), risk analysis, SWOT analysis, forecasting and competition analysis.
From 2002 until 2013, he worked for Laiki Bank in the Economic Research & Planning department and consequently as a Senior Officer in the Business Banking Division where he was responsible for managing a €100m corporate portfolio granted to companies operating in every sector of the economy. From September 2013 he is a member of the Meerat City team, acting as a Director of Corporate Services & Chief Compliance officer.
Relevant Experience in Financial Industry
- Board of Directors member of CIF and Intl. IF
- Internal Auditor of CIF
- Compliance/AML Officer of CIF
- Risk Manager of CIF
- Head of Dealing in Own Account of CIF
- Head of Brokerage of CIF and Intl. IF
Short CV
Costas Constantinides is recognized and accepted for regulatory & strategic consulting in the Forex-CFD’s -Binary Options business field with almost a decade of hands-on relevant experience. He has, through 360 Consulting (which is a member of the Boudica Group), engaged in Regulatory/Licensing-, Fiduciary/Business-, Compliance/Audit-, Mediation/Conflict Resolution- & Family Office- Services. Costas holds a Master’s degree in Management Science & Operational Research, from the University Of Warwick (UK), Business School, and a Bachelor degree with Honours in Probability & Statistics, from McGill University (CA). Furthermore, he holds numerous related qualifications such as the Advanced Level Certification in Cyprus/EU and the CFTC/NFA US series, and is a is a registered/approved Mediator.
Can persons interested for CySEC’s Exams contact GP GLOBAL LTD for more information?
Yes, anyone who is interested to learn more about CySEC’s Exams and GP GLOBAL’s LTD preparation courses are welcome to contact us either by email at gpinfo@cytanet.com or by telephone at +357 25755911.
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HI All,
Why does it have to be in Nicosia the exams,be a bit more open minded and have test center in the 2nd biggest city Limassol.About time people got in the 21st century.