Through the Circular, CySEC wishes herein to draw the attention of the Regulated Entities to the update of the Specially Designated Nationals List (“SDN List”) issued by the Department of the US Treasury’s Office of Foreign Assets Control (“OFAC”) on 06.04.18 relevant press release is accessible here. According to the Countering America’s Adversaries Through Sanctions Act (“CAATSA”), the legislation under which sanctions are issued, sanctions...Read More
Through the Circular, CySEC wishes to clarify that, the “date of authorisation” referred to in Paragraph 2 of Circular 191, is: the date on which a CySEC Regulated Entity is informed of its license number; and the relevant information of the Regulated Entity is posted on CySEC’s website, under the section “Regulated Entities”. CySEC’s expects that: Regulated Entities acknowledge the above and the fact that, their...Read More
Through the Circular, CySEC wishes to inform the Regulated Entities that, it has adopted the joint Guidelines on the assessment of the suitability of the members of the management body and key function holders, issued by the European Securities and Markets Authority (“ESMA”) and the European Banking Authority (“EBA”). The Guidelines specify: the requirements regarding the suitability of members of the management body of credit...Read More
Through the Circular and following Circular C219, CySEC wishes to remind the Regulated Entities of the Risk Factors Guidelines issued by the Joint Committee of the European Supervisory Authorities (“ESAs”), regarding simplified and enhanced customer due diligence and the factors credit and financial institutions should consider when assessing the money laundering and terrorist financing risk associated with individual business relationships and occasional transactions. Particularly: Regulated...Read More
Through the Circular, CySEC introduces amending Law No. 13(I)/2018 which amends Article 5A of the Law, and provides for the following: “It is forbidden to persons that are trading in goods such as precious stones or metals, motor vehicles, works of art and / or antiques, in the context of their business activities to receive payment in cash in an amount equal to or exceeding...Read More
