We would like to draw your attention to Circular C204, that was issued by CySEC on 04.05.17, regarding the regarding the freedom to provide investment and ancillary services and / or perform investment activities in a third country. The Circular was issued in continuance to the provisions of Circular C192. CySEC, in the context of...Read More

Through the Circular, CySEC aims to inform the Regulated Entities that provide investment services relating to financial contracts for difference (CFDs) and other complex and speculative products such as Binary Options and Foreign Exchange Contracts to Retail clients, through branch or cross border, in the territory of France. CySEC draws the attention to the new...Read More

Through the Circular, CySEC informs the Regulated Entities that further to Circulars C130, C140 and C141, CIFs shall be expected to report to CySEC on the likely implications that Brexit will have on their activities and services, including any suggestions for adopting immediate measures to eliminate their respective impact. CySEC’s expects that: CIFs look at...Read More

Through the Circular, CySEC informs the Regulated Entities that ESMA published on 31st March 2017 an updated version of its questions and answers document (the “Q&A”) on the application of the Markets in Financial Instruments Directive (MiFID) to the marketing and sale of financial contracts for difference (CFDs) and other speculative products to Retail clients...Read More

Through the Circular, CySEC informs the Regulated Entities that following Circular C100, they have to submit within five (5) days from the end of each calendar – reporting month, the Complaints Registry – Form “ΧΧ_yyyymmdd_T144-002-01”, in order to inform regarding the complaints received during the reporting month and how these are being handled. The said...Read More

Through the Circular, CySEC informs the Regulated Entities that: According to Section 6(5) of the 4th EU Anti-Money Laundering Directive 2015/849, the three European Supervisory Authorities (the “ESAs”) namely EBA, EIOPA and ESMA, are mandated to prepare every two (2) years, a joint Opinion on the risks of money laundering (the “ML”) and terrorist financing (the...Read More

Through the Circular, CySEC informs the Regulated Entities that following Circular C168 regarding the updated version of ESMA’s Q&A document for the provision of CFDs and other speculative products to Retail clients under MiFID, CySEC would like to provide additional guidance on the types of bonus incentives not permissible to be offered to Retail clients...Read More

Through the Circular, CySEC reminds  the Regulated Entities of a well-known principle that “ignorance of the Law is no defence”. As per Section 68(c) of Law 188(I)/2007, the provision of false or misleading evidence or information and false or forged identification documents of customers or ultimate beneficial owners, is a criminal offence. Particularly, as per...Read More

We would like to draw your attention to CySEC’s Circular C189 (“the Circular”) dated 22.02.17. Through the Circular, CySEC informs the Regulated Entities that, in carrying out a risk-based assessment of the AMLCOs’ Annual Reports and the Internal Auditors’ Annual Reports on the Prevention of Money Laundering and Terrorist Financing for the year 2015 and...Read More