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 funds and financial instruments of a CIF’s clients as at...Read More
To: Regulated Entities: Alternative Investment Fund Managers (‘AIFMs’); UCITS Management Companies (‘UCITS MC’); Self-Managed UCITS (‘SM UCITS’); Self-Managed Alternative Investment Funds (‘SM AIFs’); Self-Managed Alternative Investment Funds with Limited Number of Persons (‘SM AIFLNP’); Companies with sole purpose the management of AIFLNPs CySEC wishes to inform the Regulated Entities about the following: A. Information requested by CySEC A new version of the form, RBSF-MC Version...Read More
Subject: Circular C319 (“the Circular”) dated 14.05.19 regarding CySEC’s Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing To whom it concerns: – CIFs; – AIFs; – AIFMs; – AIFLNPs; and – other Regulated Financial Entities The new CySEC Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing (‘the AML Directive’) is out. Please note that upon entry into...Read More
Subject: Circular C312 (“the Circular”) dated 16.05.19 regarding findings of review into Key Information Document (the “KID”) on Packaged Retail and Insurance – based Investment Products (PRIIPs) To whom it concerns: CIFs; Regulation (EU) No. 1286/2014 sets out common standards for KIDs’ disclosure so that retail investors are provided with the information necessary for them to make an informed investment decision. CySEC has reviewed issues...Read More
Date: 6th May 2019, Subject: CySEC’s Investor Compensation Fund (“ICF”) Directive 13th of March 2019. To whom it concerns: CIFs;AIFMs which provide the services of paragraph 6 of Section 6 of the AIFM Law of 2013; Management companies, which provide the services of paragraph 4 of Section 109 of the Open-Ended Undertakings for Collective Investments Law of 2012. CySEC has revised certain provisions in regards...Read More
