August 10, 2018
Through the Circular and following Circular C219, CySEC wishes to remind the Regulated Entities of the Risk Factors Guidelines issued by the Joint Committee of the European Supervisory Authorities (“ESAs”), regarding simplified and enhanced customer due diligence and the factors credit and financial institutions should consider when assessing the money laundering and terrorist financing risk...
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Through the Circular, CySEC introduces amending Law No. 13(I)/2018 which amends Article 5A of the Law, and provides for the following: “It is forbidden to persons that are trading in goods such as precious stones or metals, motor vehicles, works of art and / or antiques, in the context of their business activities to receive...
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Through the Circular, CySEC wishes to inform the Regulated Entities about the following: The FATF Guidance focuses on risk-based approach (“RBA”) for the securities sector, it takes into account the experience gained by the public authorities and the private sector over the years and includes an annex on suspicious activity indicators in relation to securities....
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Further to Circular C210 dated 17.05.17, CySEC informs Cypriot Investment Firms (“CIFs”) regarding the abovementioned subject with particular emphasis to the below: CIFs must include relevant warnings as advised in Circulars C210 and C248, on the homepage of their website and not relegate any warning to other part of their website with less direct access....
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Through the Circular, CySEC wishes to inform Cyprus Investment Firms (“CIFs”) regarding the following: EBA issued an opinion on the design and calibration of a new prudential framework for Investment Firms dated 29.09.17 (“the Opinion”), that is specifically tailored to the needs of Investment Firms’ different business models and inherent risks; EBA has developed the...
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Further to C237 and C238, CySEC wishes to inform Cyprus Investment Firms (“CIFs”), Credit Institutions, Market operators of Trading Venues (“TVs”),  Approved Reporting Mechanisms (“ARM”) (“the Reporting Entities”) and Issuers that, ESMA issued a Public Statement dated 09.10.17 regarding a Briefing on the LEI. The briefing is part of ESMA’s efforts to raise industry awareness...
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Through the Circular, CySEC informs CIFs regarding the provision of services on virtual currencies and / or on CFDs relating to virtual currencies. At the moment there is no specific EU regulatory framework governing the trading on virtual currencies and / or trading on CFDs relating to virtual currencies. In addition, there is no official...
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Following Circular C115 relating to EMIR, CySEC informs the Cypriot Investment Firms, UCITS and Management Companies, AIFs managed by AIFMs and Non-Financial Counterparties (“the Regulated Entities”), on the amendments made in the EU regulatory framework regarding EMIR; particularly in respect of the: Clearing obligation A number of delegated regulations were published by the EU Commission...
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Through the Circular, CySEC reminds the Cypriot Investment Firms (“CIFs”) regarding EBA’s Guidelines EBA/GL/2015/22 issued on 27.06.16 on sound remuneration policies. These Guidelines apply since 01.01.17 and fulfil the following purpose: They fulfil the mandate given to EBA under Articles 74(3) and 75(2) of Directive 2013/36/EU (“the Directive”) on access to the activity of credit...
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Through the Circular, CySEC informs the Cypriot Investment Firms (“CIFs”) that provide investment and ancillary services and / or perform investment activities in accordance with Section 79 of Law144(I)/2007 in the territory of Latvian Regulator, the FCMC, regarding the following: Regulator’s legislation:   Financial Instruments Market Law dated 01.11.17; Enforcement date:   from 04.10.17 onwards; Restriction applicable:  ...
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