CyprusLiving

Below is a news announcement from the Cyprus Central Bank regarding the regulation of Investment advisors.
Any company offering financial advice in Europe must be properly regulated. In Cyprus this means being regulated by either the Cyprus Securities and Exchange Commission if their activities are in respect of financial securities, or by the Insurance Companies Control Service if their activities are only in respect of insurance.
I recommend anyone seeking advice checks first that their advisor is properly regulated.



The Central Bank of Cyprus ceases to be the regulatory authority for international financial services companies
(02 Jan. 2008)

As from 1st November, 2007, the Central Bank of Cyprus ceased to be the regulatory authority for the following financial services companies (investment advisors).

AMESTY LTD
AQUILA FINANCIAL SERVICES COMPANY
ATI ASSOCIATES (CYPRUS) LTD
BARBICAN FINANCIAL SERVICES LTD
CARATFIN LIMITED
CONSTANT FINANCIAL SERVICES (OVERSEAS) LTD
DAVENPORT CHADWICK & CO LTD
DEVERE & PARTNERS LTD
ELITE FINANCIAL SERVICES LTD
F.A.A. LTD
FCP FINANCIAL MANAGEMENT LTD
FONCERA TRADING LTD
FRASER MCKINLAY (MIDDLE EAST) LTD
GEOFFREY BIRCH FINANCIAL SERVICES LTD
GERIHALL VENTURES LTD
INTER-ALLIANCE INTERNATIONAL FINANCIAL SERVICES LTD
MALLARD FINANCIAL MANAGEMENT (CYPRUS) LTD
MINDEN LTD
MOSAIC FINANCIAL SOLUTIONS LTD
NIKKIMAT LTD
ORION FINANCIAL SERVICES LIMITED
PENNONE & PARTNERS
RMN (CYPRUS) LTD
SUMNER HOLDINGS LTD
U.K. EXPATRIATE CONSULTANCY SERVICES (CYPRUS) LTD
ZAMMIT FINANCIAL MANAGEMENT GROUP LTD

The above companies must either obtain a permit from the Cyprus Securities and Exchange Commission or from the Superintendent of Insurance.