Regulatory Compliance

Alpari Financial Services Ltd is a registered Cyprus Investment Firm (registration number HE268974) and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 129/10. Alpari FS Ltd is regulated by the Cyprus Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(1)/2007) and MiFID (Markets in Financial Instruments Directive).

The Cyprus Securities and Exchange Commission (CySEC) was founded in order to supervise and regulate public companies in accordance with section 5 of the Cyprus Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001.

The goal of the CySEC is to control and supervise the operation of financial exchange markets and the transactions carried out on those markets. They also exercise a range of other responsibilities in conjunction with that authority.

Under their authority CySEC may:

• supervise the issuers of securities listed on the Cyprus Stock Exchange
• inspect companies, brokers, mutual fund management companies and investment consultants
• grant operation licences to brokerage firms, brokers, investment consultants and investment firms
• recall operation licences for special reasons
• impose disciplinary penalties and administrative sanctions to brokerage firms, brokers, investment consultants and other persons or entities falling under their jurisdiction.

Markets in Financial Instruments Directive (MiFID) is European legislation which came into effect November 1, 2007 and regulates financial markets across the European Economic Area, including Cyprus. MiFID's objective is to enhance the European financial marketplace, improve investor protection and increase market transparency.

MiFID (i.e. the European Commission Directive 2004/39/EC) has been implemented in the Republic of Cyprus by the Cyprus Securities and Exchange Commission through the introduction of the Law and its directives DI144-2007-01 and DI144-2007-02.

Under CySEC and its membership in the European Securities and Markets Authority (ESMA) Alpari FS Ltd is in compliance with the regulations set forth by MiFID.