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
We would like to draw your attention to CySEC’s Circular C191 (“the Circular”) dated 01.03.17, regarding the Regulated Entities’ compliance with reporting and other obligations, through which CySEC informs the Regulated Entities that: 1.From the date of authorisation and / or taking up duties (where this is applicable, e.g. for companies with sole purpose the management of AIFLNPs), and not from the...Read More
We would like to draw your attention to CySEC’s Circular C192 (“the Circular”) dated 03.03.17, regarding the freedom to provide investment and ancillary services and / or perform investment activities in a third country. Cyprus Investment Firms (CIFs) may provide / perform investment services / activities in the territories of third countries only when they...Read More
We would like to draw your attention to CySEC Announcement dated 20.02.17 regarding the Amending Directive R.A.D 22/2017 to Directive R.A.D. 174/2015, which is now published as a Consolidated Directive 2017 (“the Directive”). The purpose of the Amending Directive R.A.D. 22/2017 is: Any deleted from the Public Register person, due to failure to renew its...Read More
