|Spot Capital Markets (Cyprus) LTD (hereinafter the "Company") is a company duly registered and regulated under the laws of the Republic of Cyprus and having its registered office at Kanika Business Center, 319 - 28th October St, 2nd floor, Limassol, 3105, Cyprus. The Company is regulated and regulated by the Cyprus Securities and Exchange Commission (hereinafter CySec) as an investment company in Cyprus (CIF), under license number 210/13.|
Cypriot legislation relating to the regulation of CIF and investment firms, Law 144 (I) / 2007 and 106 (I) / 2009, as amended, providing for the provision of investment services, (Hereinafter referred to as the "Act") has been developed to transpose the Financial Instruments Directive (MiFID) into Cyprus, which has been put in place in November 2007. MiFID introduces competition into the EU's commercial landscape and provides a "passport" for trading venues and investment firms to operate across Europe on the basis of an authorization from the Member State of origin (MS) by introducing a number of investor protection measures.
Spot Capital Markets (Cyprus) Ltd is authorized to provide investment and related services in the EU (including France) under license CySec 210/13, using the trade name Optionweb.
What is the Optionweb CySec License?
Should we trust a Cypriot authority?
Is it recognized in Europe?
CySec as the regulator of financial markets in Cyprus is subject to European regulations and directives. This is due to the fact that Cyprus is one of the 27 member states of the European Union.
Since 2007, the Cypriot authorities have done an important job in order to align themselves with the strict rules provided by the European Union. As a result, CySec has been obliged to comply with the requirements of the European Union's Financial Instrument Directive (MiFID), itself and its licensees. This Directive, a cornerstone of the renewal of the European financial system, has been put in place to harmonize the obligations, rules, duties and rights of the various European national authorities.
In France, the MiFid was transposed into national law by amending the General Regulation of the Autorité des Marchés Financiers (AMF) which, through its role as regulator of financial markets in France, had the duty to impose the new Directive French.
At the European level, the entire Financial Supervision System is managed by three main EIOPA, EBA and ESMA (European Securities and Markets Authority) bodies. ESMA's role is to harmonize the various European Financial Markets Authorities, Provides guidance and coordinates their efforts.
This is how CySec and AMF, as the authorities of member countries of the U.E, are headed by the same European body: ESMA.
ESMA provides each national body with a list of Regulated Companies by country.
Although in France it is the AMF, the body responsible for regulating the markets, the international representative role and the security control role is reserved for it to the Autorité de Contrôle Prudentiel and the resolution of the Bank Of France (ACPR).
The whole, forming an integral part of the European financial system, AMF and ACPR, in their collaboration, recognize the licenses provided by the national authorities of the member states of the EU. Thus the CySec license is a valid license Recognized by AMF / ACPR.
To verify this recognition click here