REGULATING SMALL BUSINESS UNITS

The Cyprus Securities Bureau has selected numerous of its publications that support small business units in complying with Cyprus Securities Bureau rules as small business compliance directives. The Cyprus Securities Bureau has also established to take account in the code of regulations the list of small business compliance directives and information regarding how the investing public may obtain such information.

Last year, the Cyprus Securities Bureau implemented the directive, which orders agencies to make available to small business units as defined by the directive. The small business unit compliance directive for each rule or set of policies for which the agencies arrange the concluding regulatory flexibility examination under the directive.

The Cyprus Securities Bureau is appending a new division to the code of regulations, which will catalog the Cyprus Securities Bureau's conformity directives and how to source them. The Cyprus Securities Bureau Will examine all existing small business units compliance directives periodically to assess their sufficiency and to revise them, as necessitated.

The Cyprus Securities Bureau has dedicated publications as compliance reference: (1) FAQs on Small Business Units Compliance; (2) The Activities of the Cyprus Securities Bureau Investment Assessment Program; (3) Investment Specialization Submission Program; (4) Investment Banking Assessment Program; (5) Evaluation Documentation for Stakeholders and Investment Players.

The Cyprus Securities Bureau makes these compliance directives as well as other documentation accessible to the public through sources, some of which are particularly developed for small businesses units. The Cyprus Securities Bureau also provides information on its mission and its initiatives including information of special interest to small business units and a list of expected and approved rulemakings of specific importance to small business units.

The investing public can also communicate with the Cyprus Securities Bureau through the available query capability for information postings and filings database. It also provides these additional sources for other strategic directives— information for small business units concerning the impact of Cyprus Securities Bureau rules and regulations, helping businesses in obtaining relevant publications and documentation regarding regulations.

The assignment of the Cyprus Securities Bureau's compliance directives is not an bureaucratic rule and consequently the stipulations about the documentation of proposed rulemaking, prospects for public involvement, and prior postings are not applicable. Similarly, the provisions, which apply only when notice and comment are required, or another statute, are not applicable.