ESMA objective: To promote consistency and increase the frequency of current LST practices while also enhancing the existing LST standards. When: On the 30th September 2020 the new ESMA’s Liquidity Stress Testing Guidelines (“the Guidelines”) will take effect. Competent authorities shall be incorporating these Guidelines into their national legal and supervisory frameworks as appropriate. To whom it applies: Alternative Investment Funds (AIFs); Undertakings for the...Read More
CySEC Announcement dated 17th December 2019 on the “ AML Compliance Officers’ ” Examinations The Cyprus Securities and Exchange Commission (CySEC) would like to inform all the interested parties that it will initiate the conduct of the examinations for the certification of the Anti-Money Laundering Compliance Officers (AMLCOs) in February 2020. The said examinations are conducted by CySEC to contribute in the Republic’s effort to...Read More
The Cyprus Securities and Exchange Commission (‘CySEC’) has issued a Directive for the imposition of national measures to restrict the marketing, distribution and sale of contracts for difference (‘CFDs’). The Cyprus National Product Intervention Measures (‘CyNPIMs’) include: Restricting leverage limits from 30:1 to 2:1 on the opening of a position by a retail client; The adoption of the same leverage limits for all retail clients,...Read More
CySEC wishes to inform Regulated Entities of the recent amendments made regarding EMIR. The following are the main changes: Definition of Financial Counterparty (‘FC’) The EMIR Refit expands the definition of an FC to include the following entities perceived to pose important systemic risk to the financial system: Every AIF established in the EU, or managed by an AIFM authorised or registered in the European...Read More
Circular C343 dated 25.10.2019 regarding the thematic review of best execution obligations of Cyprus Investment Firms (CIFs) CySEC carried out a review of the Best Execution arrangements put in place by CIFs to ensure compliance with the provisions of Article 28 of the Investment Services and Activities and Regulated Markets Law (“the Law”). Circular C343 sets out CySEC’s observations and draws the attention to...Read More
