Through the Circular, CySEC follows-up on Circular C202 published on 12.04.17 and hereby draws the attention of the Cyprus Investment Firms (“the CIFs”) which provide investment services to Retail Clients, relating to: financial Contracts for Difference (CFDs); and other complex and speculative products (i.e. Binary Options and Foreign Exchange Contracts); through a branch or cross border, in the territory of France. CySEC’s expects that: CIFs...Read More
Through the Circular, CySEC informs the Cypriot Investment Firms (“CIFs”) that Circular C081 issued on 28.07.15 regarding the threshold criteria of “significant CIF”, is repealed and replaced with the present Circular. Through the present Circular, CySEC redefines the thresholds that a CIF can use to objectively determine whether it is a “significant CIF” and the frequency of such assessment, in order to decide whether the...Read More
Through the Circular, CySEC informs the Cypriot Investment Firms (“CIFs”) and the Regulated Markets – Market Operators that the European Securities and Markets Authority (“ESMA”) published on, 27.07.17, Guidelines (the “Guidelines”), with ref. no. ESMA70-872942901-63, on the calibration of circuit breakers and publication of trading halts under MiFID II – Directive 2014/65/EU (the “Directive”). The Guidelines: apply to Trading Venues (meaning a Regulated Market, an...Read More
Through the Circular, CySEC informs the Cypriot Investment Firms (“CIFs”) that the European Banking Authority (the “EBA”), the European Insurance and Occupational Pensions Authority (the “EIOPA”) and the European Securities and Markets Authority (the “ESMA” and, together with EBA and EIOPA collectively referred to as the “ESAs”) published on 20.12.16 the Joint Guidelines (the “Guidelines”), with ref. no. JC/GL/2016/01, on the prudential assessment of acquisitions...Read More
Through the Circular, CySEC provides the Cypriot Investment Firms (“CIFs”) with clarifications regarding the capital instruments that can be qualified as Common Equity Tier I (“CET 1”). Particularly: According to Article 28(1)(b) of Regulation (EU) No. 575/2013 on prudential requirements for credit institutions and investment firms (“the CRR”), capital instruments shall qualify as CET 1 instruments only if the instruments are paid-up and their purchase...Read More
