CySEC announcement on the publication of amending Laws in relation to the new prudential framework of Investment Firms (IFD/IFR)

MNK Risk Consulting > Regulatory Developments > CySEC announcement on the publication of amending Laws in relation to the new prudential framework of Investment Firms (IFD/IFR)

The Cyprus Securities and Exchange Commission (the “CySEC”) published on the 10th of November 2021, the following Law and Amending Laws (available only in Greek):

  • Law 165(I)/2021 on the prudential supervision of Investment Firms, for the purposes of harmonisation of the Directive (EU) 2019/2034 (“IFD”) and effective implementation of the Regulation (EU) 2019/2033 (“Investment Firms Regulation”, “IFR”);
  • Amending Law 164 (I)/2021, which amends the Capital Adequacy Law 97(I)/2021 on the Cyprus Investment firms and aims to harmonise the Capital Adequacy Law 97(I)/2021 with Article 62 of the Directive (EU) 2019/2034 (“Investment Firms Directive”, “IFD”);
  • Amending Law 159 (I)/2021, which amends the Investment Services Law 87(Ι)/2017 on the provision of investment services, the exercise of investment activities and the operation of regulated markets and aims to harmonise the Investment Services Law 87(Ι)/2017 with the Directive (EU) 2019/2034 (“IFD”); and
  • Amending Law 157 (I)/2021, which amends the Alternative Investment Fund Managers (“AIFM”) Laws of 2013-2021 and aims to harmonize the AIFM Laws with Article 61 of the he Directive (EU) 2019/2034 (“IFD”).

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