meta_id 3325175

The Cyprus Securities and Exchange Commission (CySEC) published a comprehensive practical guide on November 15, 2024, establishing procedures for submitting and processing reports of violations of European Union and national law through its external reporting channel. The guide implements Law 6(I)/2022, which transposes Directive 2019/1937/EU on the protection of persons reporting breaches of union law. The guide covers 22 categories of violations falling within CySEC's jurisdiction, spanning financial services, products, and markets. These include breaches of rules governing alternative investment fund managers, short selling regulations, European venture capital and social entrepreneurship funds, market conduct and transparency requirements, public takeover bids, shareholder rights, issuer disclosure obligations, derivatives trading and reporting, benchmark regulations, credit institutions' prudential requirements, investor compensation schemes, crowdfunding platforms, collective investment schemes, market abuse, credit institution governance, settlement systems, prospectus requirements, and securities financing transactions. The guide establishes that employees, former employees, job candidates, volunteers, and persons connected to reporters through professional or family relationships may submit reports. Reports may be submitted anonymously or with identification through telephone, email, postal mail, or in-person meetings. CySEC must acknowledge receipt within seven days and complete investigations within three months, extendable to six months in justified cases. The guide emphasises comprehensive protection against retaliation for reporters and connected persons, covering dismissal, demotion, discrimination, harassment, and other adverse employment actions. Data protection obligations and confidentiality requirements are detailed, with personal data retained only as long as necessary for investigation and legal compliance, then deleted within three months of case closure. Persons wishing to report violations may contact CySEC at +357 22 506 609 (telephone), whistleblowing@cysec.gov.cy (email), or Diagorou 19, 1097 Nicosia, Cyprus (postal address), marked "CONFIDENTIAL."