Category

Regulatory Developments
Through the Circular, CySEC informs the Cypriot Investment Firms (“CIFs”) that Circular C081 issued on 28.07.15 regarding the threshold criteria of “significant CIF”, is repealed and replaced with the present Circular. Through the present Circular, CySEC redefines the thresholds that a CIF can use to objectively determine whether it is a “significant CIF” and the...
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Through the Circular, CySEC informs the Cypriot Investment Firms (“CIFs”) and the Regulated Markets – Market Operators that the European Securities and Markets Authority (“ESMA”) published on, 27.07.17, Guidelines (the “Guidelines”), with ref. no. ESMA70-872942901-63, on the calibration of circuit breakers and publication of trading halts under MiFID II – Directive 2014/65/EU (the “Directive”). The...
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Through the Circular, CySEC informs the Cypriot Investment Firms (“CIFs”) that the European Banking Authority (the “EBA”), the European Insurance and Occupational Pensions Authority (the “EIOPA”) and the European Securities and Markets Authority (the “ESMA” and, together with EBA and EIOPA collectively referred to as the “ESAs”) published on 20.12.16 the Joint Guidelines (the “Guidelines”),...
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Through the Circular, CySEC provides the Cypriot Investment Firms (“CIFs”) with clarifications regarding the capital instruments that can be qualified as Common Equity Tier I (“CET 1”). Particularly: According to Article 28(1)(b) of Regulation (EU) No. 575/2013 on prudential requirements for credit institutions and investment firms (“the CRR”), capital instruments shall qualify as CET 1...
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Through the Circular, CySEC informs the Regulated Entities that the European Banking Authority (EBA) published on 14.12.16, the final Guidelines (EBA/GL/2016/11) on disclosure requirements under Part Eight of Regulation (EU) No 575/2013 of the EU Parliament and of the Council of 26.06.13 on prudential requirements for credit institutions and investment firms and amending Regulation (EU)...
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Through the Circular, CySEC informs the CIFs which freely provide investment services in accordance with Article 79 of Law 144(I)/2007 as amended (“the Law”), in the territory of Poland, regarding KNF’s new rules that entered into force on 29.04.17, regarding the persons that are allowed to provide such services. Particularly: Pursuant to article 79(2)(a) of...
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Please note that the Circular applies only to CIFs that: are licensed to perform the investment activity of paragraph 4, Part I of Annex III of the Law (Dealing on Own Account); and/or provide the investment service of paragraph 6, Part I of Annex III of the Law (underwriting and/or placing of financial instruments on a...
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Through the Circular, CySEC informs the Regulated Entities that the Joint Committee of the three ESAs, launched on 05.04.17 a public consultation on draft Guidelines that set out: what payment service providers (“PSPs”) should do to detect and prevent the abuse of funds transfers for terrorist financing and money laundering purposes; and particularly what the...
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Through the Circular, CySEC informs the Regulated Entities that a new CIF Record Content has been established in replacement of the existing one that was submitted using XML files via the TRS System. The present Circular replaces the following Cyprus Securities and Exchange Commission (‘the Commission’) circulars that are no longer in effect: CI144-2012-01 30...
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The definition of Affiliates includes:   those third parties with whom a CIF may often engage across multiple jurisdictions, to promote the brand of the CIF online, use their website as a portal for displaying promotional and advertising content, host marketing material and direct web-traffic to the authorised CIF’s website, increase the online profile of the...
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