Licenses
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CySEC
Top Markets Solutions Ltd is registered with the Department of Registrar of Companies and Intellectual Property of the Companies of the Republic of Cyprus as a private limited company with registration number HE272810 and is authorized by the Cyprus Securities and Exchange Commission (CySEC) to act as a licensed Cyprus Investment Firm ("CIF") with license number 158/11.
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MiFID
Earn operates under the Markets in Financial Instruments Directive. This is commonly known as MiFID which along with the MiFIR Regulation and the delegated EU regulations form the EU legal framework that provides harmonised regulation for financial services across the member states of the European Economic Area.
MiFID (i.e. the European Directive 2004/39/EC) has recently been updated and MiFID II (i.e. the European Directive 2014/65/EC) took full effect in January 2018. MiDIF II has been enforced in the Republic of Cyprus by the Cyprus Securities and Exchange Commission, through the introduction of the Law 87(I)/2017 and its directives.
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EEA registrations
Earn is authorised by CySEC and freely provides MiFID services in all EU member states (except Belgium) in accordance with EU Directive 2014/65/EC. Below you can find a list of our global operations and a link to the local regulator’s website, where Earn is registered making use of the European Passport.
Licensed financial services
Investment and Ancillary Services
Earn is licensed by CySEC to offer the following investment and ancillary services in relation to the below financial instruments.
- Receiving and transmitting orders in relation to one or more financial instruments
- Executing orders on behalf of clients
- Portfolio management
- Dealing on own account
- Provision of Investment advice
The above services may be provided and the activities may be exercised in regard of the following Financial Instruments:
- Transferable securities.
- Money-market instruments.
- Units in collective investment undertakings.
- Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash.
- Options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event).
- Options, futures, swaps, and any other derivative contract relating to commodities that can be physically settled provided that they are traded on a regulated market or/and an MTF.
- Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled not otherwise mentioned in paragraph 6 of Part III and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognised clearing houses or are subject to regular margin calls.
- Derivative instruments for the transfer of credit risk.
- Financial contracts for differences.
- Options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic variables, freight rates, emission allowances or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event), as well as any other derivative contract relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Part, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on a regulated market or an MTF, are cleared and settled through recognised clearing houses or are subject to regular margin calls.
- Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management.
- Granting credits or loans to an investor to allow him/her to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction.
- Foreign exchange services where these are connected to the provision of investment services.
- Investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments.
Investor protection
In order to ensure the safety of our clients’ funds, we adhere to the following principles:
All client’s funds deposited at Earn are completely segregated from the company’s own funds and are kept in separate accounts in reputable European banking institutions. We carry out our business operations to the highest achievable standards.
Regulatory Information for Banks and Payment Service Providers. According to par. 13 of CySEC Circular C458, we are obliged to disclose the names of the PSP/EMIs we cooperate with, as well as the competent authority/country that supervise them. Top Markets Solutions Ltd cooperates with the following regulated credit institutions and payment service providers.Earn uses advanced monitoring and risk management. This system monitors the client balance, aiming to protect it against losses higher than the initial investment. According to the ESMA regulations we are required to apply negative balance protection on a per-account basis
Earn, in compliance with Law 87(I)/2017, is a member of the Investor Compensation Fund (ICF), which means that our clients may be eligible to receive compensation for any claims made due to the inability or failure of the member of the Fund to fulfill its financial obligations. Securing claims is dependent on several factors. You can check eligibility terms in our Investor Compensation Fund legal document.
Earn is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) and adheres to all EU regulatory standards. We diligently submit all financial reports to CySEC and operate in accordance with the strictest standards, including maintaining sufficient capital adequacy.
EEA registrations
Below you can find a list of our global operations and a link to the local regulator’s website, where Earn is registered making use of the European Passport.
| Country | Regulators | |
|---|---|---|
| Austria | Financial Markets Authority (FMA) | Visit regulator site |
| France | Autorite de marches financiers | Visit regulator site |
| Bulgaria | Financial Supervision Commission (FSC) | Visit regulator site |
| Croatia | Croatian Financial Services Supervisory Agency HANFA | Visit regulator site |
| Denmark | Danish Financial Supervisory Authority (DFSA) (Danish: Finanstilsynet) | Visit regulator site |
| Czech Republic | Czech National Bank | Visit regulator site |
| Estonia | Financial Supervision Authority (Finantsinspektsioon) | Visit regulator site |
| Finland | Estonian Financial Supervisory Authority | Visit regulator site |
| Ireland | Central Bank of Ireland | Visit regulator site |
| Germany | Federal Financial Supervisory Authority | Visit regulator site |
| Greece | Hellenic Capital Market Commission (HCMC) | Visit regulator site |
| Hungary | Magyar Nemzeti Bank (MNB) | Visit regulator site |
| Italy | Commissione Nazionale per le Societa e la Borsa (CONSOB) | Visit regulator site |
| Latvia | Financial and Capital Market Commission (FCMC) | Visit regulator site |
| Lithuania | Bank of Lithuania | Visit regulator site |
| Poland | Polish Financial Supervision Authority (KNF) | Visit regulator site |
| Portugal | Comissão do Mercado de Valores Mobiliários (CMVM) | Visit regulator site |
| Romania | The Financial Supervisory Authority (Autoritatea de Supraveghere Financiară) | Visit regulator site |
| Spain | Spanish National Securities Market Commission (CNMV) | Visit regulator site |