The Cyprus Securities and Exchange Commission (CySEC) has found out that certain individuals are unlawfully using the personal details of persons listed in the Certification Registers and/or in the announcements of certification examination results, with the aim of exploiting and defrauding members of the public.
In exercising its responsibilities to safeguard investor protection and ensure the smooth functioning of the capital market, CySEC announces that it has temporarily suspended the publication of the Certification Registers and the announcements of certification examination results on its website.
CySEC emphasizes that obtaining certification is a prerequisite for the employment of individuals in supervised entities that provide financial services, in accordance with the Directive for the Certification of Persons and the Certification Registers (Regulatory Administrative Act 44/2019).
The regulator urges investors, in any communication with third parties concerning investment activities, to verify in advance the entity for which the individual contacting them works for, and to confirm whether that entity is registered on CySEC’s website or with another competent supervisory authority.
Furthermore, CySEC advises the public to exercise particular caution when sharing personal information with third parties and, under no circumstances, to make any payments before confirming the identity of the entity with which they intend to engage in transactions.
