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...Read More
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...Read More
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: ...Read More
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
