The financial markets regulatory authority; i.e. the Cyprus Securities and Exchange Commission (CySEC and/or the Commission) made an extraordinary effort to discipline the market in Cyprus, especially the CFD providers. The European Securities and Markets Authority (ESMA) and a number of national competent authorities of Member States have expressed their concerns about the Cypriot CFD providers’ practices adopted. Responding to the relevant concerns raised and for restoring the reputation of the Cypriot financial market, CySEC took a number of preventing and remedial measures to address the challenges faced, including the enhancement of its supervisory activities.

The European Banking Authority ("EBA") issued a revised list of validation rules in its Implementing Technical Standards ("ITS") on supervisory reporting, highlighting those, which have been deactivated either for incorrectness or for triggering IT problems.