Following the successful conclusion of a rigorous approval process covering matters that relate to KYC, Compliance and Ethics Standards, IBM Global Business Services, the largest consulting services organization in the world, has approved MNK RISK CONSULTING LTD as a QUALIFIED IBM SUPPLIER. Past and current client engagements include large-scaled consulting projects with central banks and international financial institutions.Read More

CySEC issued Circular C334 (“the Circular”) dated 07.08.19 requiring from all CIFs to keep in a separate EU Bank account an additional cash buffer in case there is a need for an extraordinary contribution to the Investors Compensation Fund (“ICF”). In particular: The minimum additional cash buffer amount is set at 0.3% of the eligible...Read More

17 July 2019 Appointment of Depositary for AIFs Relevant to: Alternative Investment Funds (“AIFs”) Alternative Investment Funds with Limited Number of Persons (“AIFLNP”); Registered Alternative Investment Funds (“RAIFs”). The Cyprus Investment Funds Association (“CIFA”) has prepared a Summary outlining the requirements for the appointment of a Depositary to the different types of AIFs under the...Read More

To: Regulated Entities: Alternative Investment Fund Managers (‘AIFMs’); UCITS Management Companies (‘UCITS MC’); Self-Managed UCITS (‘SM UCITS’); Self-Managed Alternative Investment Funds (‘SM AIFs’); Self-Managed Alternative Investment Funds with Limited Number of Persons (‘SM AIFLNP’); Companies with sole purpose the management of AIFLNPs CySEC wishes to inform the Regulated Entities about the following: A. Information requested...Read More

Subject: Circular C319 (“the Circular”) dated 14.05.19 regarding CySEC’s Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing To whom it concerns: –        CIFs; –        AIFs; –        AIFMs; –        AIFLNPs; and –        other Regulated Financial Entities The new CySEC Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing (‘the...Read More

Subject: Circular C312 (“the Circular”) dated 16.05.19 regarding findings of review into Key Information Document (the “KID”) on Packaged Retail and Insurance – based Investment Products (PRIIPs) To whom it concerns: CIFs; Regulation (EU) No. 1286/2014 sets out common standards for KIDs’ disclosure so that retail investors are provided with the information necessary for them...Read More

Date: 6th May 2019, Subject: CySEC’s Investor Compensation Fund (“ICF”) Directive 13th of March 2019. To whom it concerns: CIFs;AIFMs which provide the services of paragraph 6 of Section 6 of the AIFM Law of 2013; Management companies, which provide the services of paragraph 4 of Section 109 of the Open-Ended Undertakings for Collective Investments...Read More

COSMOS INSURANCE PUBLIC COMPANY LTD announces the appointment of Mr. M. N. Kyriacou as non-executive Board member of the Company as of 08/03/2019. For more information please click the Cyprus Stock Exchange Regulated Market Announcements.Read More

The Government of Cyprus issued its first ever 15 year bond at 2.75%. The EUR 1bn Bond was oversubscribed more than 8 times! The Republic of Cyprus, successfully launched a first ever 15-year bond, due 26 February 2034, the longest in its history. The EUR1bn bond carries a coupon of 2.75%. Citi, Goldman Sachs and...Read More

Directive regarding Certified Persons and Certification Registers (R.A.D. 44/2019) 18th February 2019 CySEC has issued a Directive regarding certified persons and certification registers (R.A.D. 44/2019). The Directive determines and clarifies: The frequency, the content, the material and the way the CySEC examination is conducted; Any matter relating to the Certification Registers, the procedures for updating,...Read More