Legal Documents and Regulation
- APPROVED AND RESTRICTED REGIONS
XTELLUS EUROPE LTD is authorised to offer investment and ancillary services to residents within Europe/European Economic Area, European Free Trade Association (EFTA – Iceland, Liechtenstein, Norway, excluding Switzerland) and Armenia, British Virgin Islands (BVI), Cayman Islands, Kazakhstan, Serbia, United Arab Emirates (UAE), Hong Kong, Montenegro.
The information on this website is not directed for residents of certain jurisdictions/countries, including but not limited to Australia, New Zealand, Canada, Iran, Iraq, North Korea, USA, Cuba, Syria, Sudan, Afghanistan, Guyana, Lao People’s Democratic Republic, Uganda, Yemen, Venezuela, Japan and Puerto Rico or to any jurisdiction where such distribution would be contrary to local laws and regulations.
- CYSEC
The Cyprus Securities and Exchange Commission (better known as CySEC), is the supervisory and regulatory authority of the Cyprus Stock Exchange and investment services firms in Cyprus. CySEC is a member of the European Securities and Markets Authority (ESMA) and governed by the European MiFID regulation since Cyprus became a member of the European Union in 2004. The Company is governed by the European Markets in Financial Instruments Directive (MiFID) and the Cyprus Investment Services and Activities and Regulated Markets Law of 2017 (Law 87(I)/2017).
Cyprus Securities and Exchange Commission | Xtellus Europe Ltd
- MIFID II
The Markets in Financial Instruments Directive (MiFID) Directive 2014/65/EU which came into effect on 15th of May 2014, is a European Union Law that provides harmonized regulation for investment services across the 31 member states of the European Economic Area. The main objective of the European Union’s MiFID II is to harmonize the governing of financial markets within the European Economic Area (EEA), and therefore to increase efficiency, improve financial transparency and consumer protection in investment services. MiFID II allows an investment firm to freely provide its services both across the EEA and to other countries, provided that such services are covered by the investment firm’s authorization.
- Investor Compensation Fund (ICF)
The Company is a member of the Investor Compensation Fund, which covers eligible clients of Cyprus Investment Firms. Being a member of the Investor Compensation Fund provides our clients with an additional protection for their investment, MiFID retails clients are covered up to €20,000 by the ICF in Cyprus. The objective of the ICF is to secure claims (in connection with investment services – or ancillary services) against Cyprus Investment Firms, in the event of the inability of the member to fulfil its financial obligations.
- LEGAL DOCUMENTS
- PROFESIONAL CLIENTS NOTIFICATION
The Company will exclusively provide its Investment and Ancillary Services to Professional Clients in accordance with the provisions outlined in the Second Appendix of Law 87(I)/2017.