CySEC wishes to inform CIFs which intend to provide investment and ancillary services and/or perform investment activities in the territories of Third-Countries, of the following: Prior to providing/performing the above-mentioned services and activities in Third-Countries, CIFs must: notify CySEC via a letter of their intention to do so. The said letter should state for each targeted Third-Country, whether CIF has obtained the relevant authorisation by...Read More
CySEC wishes to inform Market Operators and DRSPs that, the ESMA Guidelines on the management body of Market Operators and DRSPs have been adopted by CySEC. These guidelines clarify the requirements applicable to members of the management bodies of: National Competent Authorities; Market Operators; and DRSPs. CySEC’s expects that: Market Operators and DRSPs comply with the said Guidelines.Read More
Although CySEC has observed significant improvement in the internal procedures and measures applied by Regulated Entities to prevent ML and TF, in compliance with the AML Law and AML Directive, CySEC has also identified common and recurring weaknesses and/or deficiencies in Regulated Entities’ compliance with the AML Law and AML Directive, in the following areas: Client Due Diligence Timing of verification of the Client’s identification...Read More
Through the Circular, CySEC wishes to herein to draw the attention of the Regulated Entities which provide investment services in accordance with Articles 30, 35 and 36 of Law 87(I)/2017 (“the Law”), in the territory of UK, the following: UK Government announced that, if necessary it will legislate to provide a temporary permission scheme for EEA firms and funds passporting into the UK after the...Read More
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
