Further to the ESMA’s product intervention decision on CFDs and Binary Options, which was communicated by CySEC via an announcement dated 28.03.18, CySEC wishes to inform CIFs that the measures on CFDs and Binary Options have been published in the Official Journal of the European Union (OJ) on 01.01.18. The measures specified in ESMA PRESS...Read More

Through the Circular, CySEC informs the Reporting Entities [Cypriot Investment Firms (“CIFs”), Credit Institutions, Market operators of Trading Venues, Approved Reporting Mechanisms (“ARMs”)] regarding the new requirements in the Transaction Reporting regime, in line with Article 26 of Markets in Financial Instruments Regulation (“MiFIR”) EU No 600/2014; that will enter into force on 03.01.18. Under...Read More

Through the Circular, CySEC informs CIFs, UCITS MC, AIFMs (“the Reporting Entities”) on their obligations regarding product governance requirements, as provided in Law 87(I)/2017 (“the Law”) which transposes MiFID II, and in other documents issued pursuant to this. These requirements will enter into force on 03.01.18 aiming to: enhance the level of investor protection, through...Read More

Through the Circular, CySEC informs the Reporting Entities [Market Operators operating a Regulated Market (“RM”) or a Multilateral Trading Facility (“MTF”) or an Organised Trading Facility (“OTF”), or Cypriot Investment Firms (“CIFs”) operating an MTF or OTF, or CIFs acting as Systematic Internalisers (“Sis”)] regarding the new requirements for identifying reference data relating to financial...Read More

Through the Circular, CySEC informs the Cypriot Investment Firms (“CIFs”) regarding their obligations emanating under Articles 35 and 36 of Law 87(I)/2017 (“the Law”), which transposes Directive 2014/65/EU (“MiFID II”) into Cyprus national legislation and which will enter into force from 03.01.18 onwards, in relation to Passporting Issues and the establishment of a Branch. The...Read More

Summary of ESMA Guidelines on MiFID II product governance requirements (CySEC Circular C261 – 30.03.2018) Through Circular C261, the Cyprus Securities and Exchange Commission (“CySEC”) wishes to inform CIFs that the ESMA Guidelines on MiFID II product governance requirements have been adopted by CySEC and therefore they should make every effort to comply with these...Read More

The Cyprus Securities and Exchange Commission (“CySEC”) issued on 28th March 2018 an Announcement drawing the attention of the Cyprus Investment Firms (“CIFs”) to the ESMA Press Release in relation to the product intervention measures on Contracts For Differences (CFDs) and Binary Options, issued by the European Securities and Markets Authority (“ESMA”) on 27 March...Read More

Through the Circular, CySEC informs the Regulated Entities regarding their legal obligation to identify, maintain and report information to the Cyprus Tax Department, in accordance with the CRS decree 161/2016 (“CRS Decree”), which came into force on 01.01.16. The CRS Decree imposes obligations on Cyprus Financial Institutions to identify, maintain and report information about individuals...Read More

Through the Circular, CySEC informs the Regulated Entities regarding the a supplementary data collection launched by the EBA on 06.07.17, which is aimed at supporting the response to the EU Commission’s Call for Advice on the new prudential framework for investment firms. This exercise follows up on the first data collection launched on 15.07.16 and...Read More

Through the Circular, CySEC follows-up on Circular C202 published on 12.04.17 and hereby draws the attention of the Cyprus Investment Firms (“the CIFs”) which provide investment services to Retail Clients, relating to: financial Contracts for Difference (CFDs); and other complex and speculative products (i.e. Binary Options and Foreign Exchange Contracts); through a branch or cross...Read More