1. Involvement in monitoring and assessing developments concerning the capital market and the regulatory framework
2. Making recommendations to the Chairman in formulating the strategy and objectives of the Cyprus Securities and Exchange Commission in the light of developments in the capital market. The recommendations may be with regard to organizational issues, upgrading and improvement to the regulatory and supervisory framework, investor education and protection and generally for the better implementation of the objectives/goals set by the Cyprus Securities and Exchange Commission.
3. Monitoring the implementation of the strategic plan of the Cyprus Securities and Exchange Commission and updating the Chairman and Vice Chairman at regular intervals.
4. Monitoring issues arising from decisions of the Cyprus Securities and Exchange Commission Board and the progress of the implementation/execution of those decisions.
5. Providing support to the Chairman and Vice Chairman to better coordinate the work of the Cyprus Securities and Exchange Commission.

Internal and external communication

1. Making recommendations on issues relating to internal and external communication policy and development of a relevant action plan.
2. Preparing and reviewing publications of the Cyprus Securities and Exchange Commission (e.g. Annual Report, informative and educational booklets etc.) as well as educational articles.
3. Organising public relation activities, seminars, conferences and other events.
4. Monitoring of domestic and international daily newspapers and developments in capital markets at European and international level.
5. Participating in the internal crisis management team.

Financial Education

1. Submitting proposals for financial education programmes for the public.
2. Implementation/ monitoring of the implementation of educational programmes for the public
3. Coordinating and participating in the Advisory Committee for Consumer Financial Education.

International Relations

1. Correspondence and communication with the relevant supervisory authorities and organizations (e.g. IOSCO, IMF, etc.) abroad (except for notifications to and from the Cyprus Securities and Exchange Commission which are handled directly by the relevant departments).
2. Negotiation and conclusion of memoranda of understanding and cooperation (MoU) with supervisory authorities abroad.

Coordination and Representation of the Commission

1. Internal Coordination for CESR and representation of the Cyprus Securities and Exchange Commission on CESR's Review Panel as well as participation in the CESR - Post Ecofin Task Force subgroup and CEMA.
2. Coordination and collaboration with Government Services such as the Ministry of Finance and the Planning Bureau regarding the obligations of Cyprus as a member of the European Union (in cooperation with the Legal Department), and other issues.
3. Internal coordination of affairs and communication with the other competent supervisory authorities of the financial sector in Cyprus.
4. Representing the Cyprus Securities and Exchange Commission (together with the Chairpersons) on the High Level Ad-hoc Committee of the Supervisory Authorities of the Financial Sector.
5. Representing the Securities and Exchange Commission (together with the Vice-Chairperson) on the National Committee for Financial Stability.

• The examination of applications of listing securities in the Stock Exchange.
• The examination of applications, in accordance with the Securities offered to the Public Law of 2002 on granting licenses for invitation to the public for investment in financing means.
• The examination of documents of Public Offer for acquisition or takeover bids.
• The supervision of compliance of companies that have listed securities in the Stock Exchange with their continuous obligations.
• The supervision of compliance of investment companies with their continuous obligations.
• The conduct of investigations.
• The publication of circulars or announcements to the listed companies in the Stock Exchange in subjects which concern the listing of securities, raising of capital or matters relating with their continuous obligations.
• The study of proposed amendments of the existing legislation.

• The examination of applications for registration of Members of CSE and Stock Exchange representatives.
• The contacts and meetings with companies that are in the stage of preparing their application for an operational license of Cypriot Investment Services, and discussing subjects that are related to their application.
• The examination of applications for issuing of operational license of the Investment Services Company as well as applications for amendment of already granted operational licenses.
• The examination of applications for approval of representatives of the Investment Services Companies.
• The supervision of compliance of CSE Members and Investment Services Companies with their continuous obligations.
• The compliance of application with the Cover-up, Research and Seizure of Income from Criminal Activities of (1996) Law from all the Investment Services Companies.
• The study and publication of Directives in accordance with the Investment Services Companies Law.
• The training of institutions involved.

The duties of the Department of UCITS are mainly the following:

• To examine applications for granting incorporation and operation licenses to local Open-ended Undertakings for Collective Investment in Transferable Securities (UCITS).
• To examine applications for granting incorporation and operation licenses to local Management Companies.
• To examine requests for amending the Prospectuses, the Funds Rules or the Articles of Incorporation of local UCITS as well as for amending the Articles of Incorporation of local Management Companies.
• To examine notifications for the marketing, through Distributors in the Republic of Cyprus, of units of foreign UCITS domiciled in a member state subject to the European Directive 85/611/EC.
• To examine applications for granting license for the marketing, through Distributors in the Republic of Cyprus, of units of foreign UCITS domiciled in a member state not subject to the European Directive 85/611/EC or units of foreign UCITS domiciled in a third country.
• To examine notifications for the establishment and the cross border provision of services by foreign management companies domiciled in a member state.
• To examine applications for granting license for the establishment in the Republic of foreign management companies domiciled in a third country
• To examine and issue Directives pursuant to the provisions of the Open-ended Undertakings for Collective Investment in Transferable Securities (UCITS) and Related Issues Law.
• To supervise the compliance of UCITS, Management Companies, Custodians and Distributors with their continuous obligations provided in the Law.
• To issue circulars or announcements to UCITS, Management Companies, Custodians and Distributors.
• To examine proposed amendments of the existing legislation.

The department is occupied by one senior officer and one officer.

The duties of Department of Market Surveillance and Investigations are mainly the following:

Infringements of possible unlawful conduct as far as the capital market is concern as well as deceptive statements. Included are, cases as market manipulation, provision of privileged and confidential information or statement of misleading or forecasting false and/or illegal information, dissimulation of essential information with the objective the public offering, the purchase / sale of Stock Market things. These infringements are covered by articles 67,.68 and 69 of the Law regulating issues relating to the possession, use and disclosure of privileged confidential information.

Investigations.

• Conduct of investigations in EPEY and/or in public companies.
• Undertaking of deposits by individuals to assist the work of the Commission.
• Follow-up and investigation of Investors' Complaints.

• Via modern electronic surveillance systems.
• Specialized trained staff.

• Follow-up of the capital market legislation - Preparation / submission of proposals for amending related laws and regulations- Legal processing.
• Subjects of harmonisation with the European Union.
• Court affairs - archiving, follow-up, co-ordination and collaboration with outsourced lawyers employed by the Commission.
• Preparation of the Commission's board meetings minutes.
• Announcements of decisions of the Commission.
• Legal Support of the Commission (correspondence - opinions - researches).
• Communication with foreign supervisory authorities - exchange of information and memorandum of understanding.

• Monitoring of the Personnel Regulations.
• Follow-up of personnel education.
• Recruiting additional personal as well as proclamations on fulfillment of vacancies.
• Preparation of budget and monitoring the expenses in accordance with the articles of budget.
• Preparation of the Commission's Financial Statements.
• Secretarial support of the other Departments.
• Management of correspondence and telephone centre.
• Archiving of files of the Commission.
• Preparation of bids for the supply of expendable equipment needed.
• Ensuring that the income of the Commission is properly received.
• Provision for the balanced management of the Commission's assets.