CySEC Acts Against COVID-19 Spread

COVID-19 has been on top of the headlines for some time now, with many organization taking precautionary actions to stop or slowdown its spread. We turn to CySEC, a thick pillar in the global forex industry, under whose authority fall some of the most successful brokers. The Cypriot watchdog has issued a statement to all of its regulated entities, associative firms/organizations, while also addressing the public of the measures it has taken against the Coronavirus.

The main duty of the company right now, besides continuing its operations, is to safeguard the well being of employees and stakeholders:

“CySEC is closely monitoring and evaluating all developments related to COVID-19, as well as the impact it may have on the activities of its supervised entities and the market, taking appropriate action where necessary”.

In more detail, the measures taken include over-the-phone stakeholder meetings, cancellation of staff trips, and the usual safety informative guidelines. Staff members are sent home to work remotely with the hopes of limiting direct contact. Even details that seemed insignificant before the outbreak, like mail delivery, have been prioritized.

The sole team that will be working directly on CySEC premises is the crisis management group, if need be.

Social distancing protocol may be the new status quo,but its implications on global economy will not go unnoticed or unfelt.