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
Directive regarding Certified Persons and Certification Registers (R.A.D. 44/2019) 18th February 2019 CySEC has issued a Directive regarding certified persons and certification registers (R.A.D. 44/2019). The Directive determines and clarifies: The frequency, the content, the material and the way the CySEC examination is conducted; Any matter relating to the Certification Registers, the procedures for updating, registering, updating and deleting registered persons; The amount of the...Read More
CySEC wishes to inform Regulated Entities that ESMA published on 01.10.17, Guidelines on transaction reporting, order record keeping and clock synchronisation under MiFID II (“the Guidelines”). The guidance is focused on the construction of Transaction Reports and of the order data records field by field for various scenarios that can occur. Given the wide range of potential scenarios, these guidelines do not provide an exhaustive...Read More
CySEC wishes to inform the Regulated Entities of the following: The Joint Committee of the three European Supervisory Authorities (“ESAs”) (i.e. EBA, EIOPA and ESMA) published, on the 07.04.17, its final guidelines on the characteristics of a risk-based approach to AML and CFT supervision, and the steps to be taken when conducting supervision on a risk-sensitive basis (“The Risk-Based Supervision Guidelines”), in relation to the...Read More
CySEC has deployed a risk-based assessment of the AMLCOs’ and the Internal Auditors’ Annual Reports for the year 2016, that were submitted to CySEC in 2017. Having carried out these assessments, the following common and recurring weaknesses and deficiencies were identified: AMLCOs’ Annual Reports on the prevention of ML and TF and the relevant BoD minutes Insufficient application of Circular C186 and Paragraph 6 and...Read More
