Cyprus has now passed the necessary legislation to implement Directive 2004/39/EC of the European Parliament and of the Council on Markets in Financial Instruments, and Directive 2006/31/EC of the European Parliament and of the Council of April 5 2006. Together, these directives establish a comprehensive regulatory framework for the execution of transactions on behalf of investors by stock markets, alternative trading systems and investment firms. Their objective is to protect investors, develop a single market in investment services across the EU, and promote fair and transparent integrated financial markets.
January 01 2008