UK Investment advisers will be soon required by Financial Conduct Authority to set aside money to cover the cost of potential redress schemes that would ensure the “polluter pays” when consumers are harmed. The Financial Conduct Authority (FCA) wants the financial advice market to make sure consumers can access the support they need from financially resilient advice firms. Reasoning for this new requirement: “Diligent advisers...Read More
Businesses are taking steps to boost their geopolitical expertise to help with increasingly delicate judgments on target markets and supply chains. While some are using specialist consultancies others, such as Hitachi and Lazard, have been hiring former diplomats, civil servants and politicians to provide advice. Lord Malloch Brown, an ex-diplomat and president of the Open Society Foundations, said “There was always some retired diplomat in...Read More
Relevant to: Regulated Entities1 Circular C601 (“the Circular”) dated 12/10/2023 is issued following EBA’s Guidelines on the use of Remote Customer Onboarding Solutions under Article 13(1) of Directive (EU) 2015/849. Through Circular C601, CySEC wishes to inform to inform the Regulated Entities that the EBA has published its Guidelines on the use of Remote Customer Onboarding Solutions under Article 13(1) of Directive (EU) 2015/849 (‘Guidelines’)....Read More
Relevant to: Cyprus Investment Firms (‘CIFs’) Circular C599 (“the Circular”) dated 27/09/2023 is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law (the ‘CySEC Law’). Through Circular C599, CySEC wishes to inform all CIFs for the obligation to submit the Quarterly Statistics Form. The key takeaways from CySEC’s C599 circular can be found below: The latest version of the Form QST-CIF, Version...Read More
Relevant to: Regulated Entities[1]Circular C597 (“the Circular”) dated 28/09/2023 is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law (‘the CySEC Law’). Through Circular C597, CySEC wishes to inform Regulated Entities for the obligation to submit the Quarterly Statistics Form. The key takeaways from CySEC’s C597 circular can be found below: A new version of the form, QST-MC Version 20 (‘the...Read More
