Regulatory Developments

Through the Circular, CySEC reminds the Cypriot Investment Firms (“CIFs”) regarding EBA’s Guidelines EBA/GL/2015/22 issued on 27.06.16 on sound remuneration policies. These Guidelines apply since 01.01.17 and fulfil the following purpose: They fulfil the mandate given to EBA under Articles 74(3) and 75(2) of Directive 2013/36/EU (“the Directive”) on access to the activity of credit institutions and the prudential supervision of credit institutions and investment...
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Through the Circular, CySEC informs the Cypriot Investment Firms (“CIFs”) that provide investment and ancillary services and / or perform investment activities in accordance with Section 79 of Law144(I)/2007 in the territory of Latvian Regulator, the FCMC, regarding the following: Regulator’s legislation:   Financial Instruments Market Law dated 01.11.17; Enforcement date:   from 04.10.17 onwards; Restriction applicable:   Pursuant to Sections 101, 103 and 112(5) regarding the offering...
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Further to the ESMA’s product intervention decision on CFDs and Binary Options, which was communicated by CySEC via an announcement dated 28.03.18, CySEC wishes to inform CIFs that the measures on CFDs and Binary Options have been published in the Official Journal of the European Union (OJ) on 01.01.18. The measures specified in ESMA PRESS RELEASE (Q & A also available) will apply: From 01.08.18...
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Through the Circular, CySEC informs the Reporting Entities [Cypriot Investment Firms (“CIFs”), Credit Institutions, Market operators of Trading Venues, Approved Reporting Mechanisms (“ARMs”)] regarding the new requirements in the Transaction Reporting regime, in line with Article 26 of Markets in Financial Instruments Regulation (“MiFIR”) EU No 600/2014; that will enter into force on 03.01.18. Under the current framework, particularly Article 25 of Markets in Financial...
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Through the Circular, CySEC informs CIFs, UCITS MC, AIFMs (“the Reporting Entities”) on their obligations regarding product governance requirements, as provided in Law 87(I)/2017 (“the Law”) which transposes MiFID II, and in other documents issued pursuant to this. These requirements will enter into force on 03.01.18 aiming to: enhance the level of investor protection, through avoidance and reduction of potential risks from failure of investor...
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