In accordance with section 10 of the Notification of the Minister of Finance no. Κ.Δ.Π. 220/2003 which was published in the Official Gazette of the Republic of Cyprus on 7.3.2003, which was amended by the Notifications of the Minister of Finance no. Κ.Δ.Π. 642/2003, Κ.Δ.Π. 744A/2003 and Κ.Δ.Π. 79/2004 which were published in the Official Gazette of the Republic of Cyprus on 1.8.2003, 3.10.2003 and 13.2.2004 respectively and based on paragraphs (2) and (6) of section 32 of the Law for Investment Firms, the following Announcement is issued:
1. Whereas in accordance with paragraph (1) of section 1 of the above mentioned Notification as it has been subsequently amended, investment firms, including banks, registered in the Republic of Cyprus and investment firms based in third countries offering investment services in the Republic of Cyprus, are obliged when offering investment services to their customers to employ exclusively in the departments offering such services supervisors and employees each possessing a Certificate of Professional Competence.
2. Whereas the issue of such Certificate to investment firms’ supervisors and employees is achieved following the successful participation in examinations conducted in accordance with section 3 and Part V of the above mentioned Notification.
3. Whereas for participation in the examinations in accordance with section 13 of the Notification, it is required that an appropriate application form is submitted to the Secretarial Support Section of the Examinations Board.
4. Whereas in accordance with section 10 of the Notification, the Announcement should state the exact date and place of the examinations as well as the examinations timetable.
5. Whereas in accordance with paragraph (1) of section 13 of the Notification, the deadline before which the application forms for participation in the examinations must be submitted is set.
It is announced that the dates and times for the written examinations for the issue of the Certificates of Professional Competence for supervisors and employees of investment firms, including banks, will be held at the International Conference Centre on 1st, 2nd and 3rd of December 2004 from
The written examinations timetable is as follows:
1.12.2004
09:00-11:00 a.m. General Part
11:30-01:30 p.m. Certificate for reception and transmission of orders
02:30-04:30 p.m. Certificate for execution of such orders
05:00-07:00 p.m. Certificate for the provision of investment advice
2.12.2004
09:00-11:00 a.m. Certificate for portfolio management
11:30-01:30 p.m. Certificate for supervisor of underwriting section
02:30-04:30 p.m. Certificate for supervisor of sponsoring section
05:00-07:00 p.m. Certificate for supervisor of dealings for own account section
3.12.2004
09:00-11:00 a.m. Certificate for supervisor of portfolio management section
11:30-01:30 p.m. Certificate for supervisor of dealings section
02:30-04:30 p.m. Certificate for supervisor of internal audit section
It is also announced that the oral examinations, for those applicants who will have passed the written examinations, will be held on 29 and 30 of December 2004. Those applicants will be individually informed.
Application forms will be available for interested parties from 6 September 2004 at the office of the Secretarial Support Section of the Examinations Board at the Ministry of Finance, M. Karaoli Street, 1439 Nicosia, (telephone number: 22601170, fax number: 22602748) and from the website of the Ministry of Finance http://mof.gov.cy/en/ from 10 September 2004. Application forms from parties applying to participate in the examinations should be submitted at the above mentioned office by
Issued today on
F.A. Sorok
Chairman of the Examinations Board