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A Limassol-based fintech startup, eCredo, plans to revolutionise e-payments with quick and low-cost transfers, as high street banks continue to charge high rates, frustrating customers who are seeking alternative ways to do business. “E-payment is the electronic means of making payments in what is still a developing sector of the economy,” said a senior eCredo...
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CySEC Announcement dated 17th December 2019 on the “ AML Compliance Officers’ ” Examinations The Cyprus Securities and Exchange Commission (CySEC) would like to inform all the interested parties that it will initiate the conduct of the examinations for the certification of the Anti-Money Laundering Compliance Officers (AMLCOs) in February 2020. The said examinations are...
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  Circular C343 dated 25.10.2019 regarding the thematic review of best execution obligations of Cyprus Investment Firms (CIFs) CySEC carried out a review of the Best Execution arrangements put in place by CIFs to ensure compliance with the provisions of Article 28 of the Investment Services and Activities and Regulated Markets Law (“the Law”). Circular...
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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.
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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...
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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...
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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.
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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...
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07.01.2019 Clearstream headlines “Clearstream has further expanded its Vestima offering by making Cyprus domiciled investment funds eligible for order routing, settlement and custody. International customers can use their Vestima setup to directly access Cyprus domiciled funds and benefit from the same streamlined handling as for other markets. With assets under management (AUM) having more than...
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Our Credit Risk analytics online application has been recently updated. Click here for free trial.
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