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CYPRUS BROKER LICENCE

On 26th of October the Parliament of Cyprus passed the bill of “Investment Services and Activities and Regulated Markets Law of 2007”, which made the legislation system of Cyprus operate in compliance with the European Union Directives regarding the Financial Services Companies.

The above-mentioned law defines a list of major and additional investing services and activities which are conducted by the companies licensed by Securities and Exchange Commission.

Global leading stock gamblers takes Cyprus Investment Firms as one of the most appropriate variants of third party investments attraction for foreign exchange, securities trading, dept obligations, futures, options etc.

Elitando company has extensive experience in registration and maintenance of Cyprus Investment Firms. We are always ready to use our Cyprus office experience and possibilities of international registrator to provide professional and sufficient services.

Our main investment services and activities:

1. Registration and transfer of orders in respect of certain financial instruments.
2. Execution of orders on behalf of the client.
3. Implementation of transactions for one’s own account, in which the broker carries risks in respect of traded assets.
4. Securities portfolio management
5. Recommendations on investments.
6. Underwriting in respect of financial instruments and / or placing financial instruments on a firm commitment.
7. Placing of financial instruments without a firm commitment.
8. Operating activities with the Multilateral Trading Facility

Additional investment services and activities:

1. Depositation and administration of financial instruments.
2. Credit or loans extension
3. Provide consulting services in the change of capital structure, industrial strategy, mergers and acquisitions transactions.
4. Additional services of underwriting.
5. Investment Consulting in relation to one or more financial instruments.
6. Implementation of foreign exchange operations related to the provision of investment services.

The main requirements to obtain a license are defined by the directives of Cyprus Securities and Exchange Commission. The key requirement is presence of board of directors consisted of at least four directors most of whose should be residents of Cyprus. General Manager of the company must be certified by the program of Securities and Exchange Commission.

Furthermore, company which intends to provide brokerage services has to prove its accordance with the standards written in the directives regarding:

• Adequate policies and management standards
• Transparency of the organizational structure
• An effective system of risk assessment and supervision
• Organization of security processing systems
• Customer identification procedures and systems of internal reporting in order to comply with the Law on Prevention and Suppression of Money Laundering
• The organization of appropriate security procedures in respect of clients’ rights of property