Politis

Bill on Whistleblower Protection for Capital Market Complaints Before Finance Committee

Published January 12, 2026, 16:16
Bill on Whistleblower Protection for Capital Market Complaints Before Finance Committee

A bill concerning complaints to the Cyprus Securities and Exchange Commission (CSEC) is before the Parliamentary Committee on Finance. The bill transposes a 2015 European directive into national law, establishing procedures for investigating market abuse complaints and protecting whistleblowers. It provides for the creation of secure communication channels, the protection of the identity of whistleblowers, and the provision of information and support in the event of retaliation. There is disagreement with the Ministry of Labor regarding the reference to the Department of Labor as the competent authority for whistleblower protection, as it is considered that the directive is of a general nature. The Legal Service clarifies that the directive allows for cooperation with relevant authorities and that the reference to the Department of Labor was deemed appropriate due to its established competence.