Through the Circular, CySEC informs the Regulated Entities that the Joint Committee of the three ESAs, published on 26.06.17 its final guidelines on AML and CFT (the “guidelines”). These guidelines: are essential to the European Union’s fight against ML/TF, as they set clear, regulatory expectations of the way credit and financial institutions should discharge important AML/CFT obligations and pave the way for a more effective...Read More
Through the Circular, CySEC informs the Regulated Entities that CIFs that provide investment services relating to Financial Contracts for Difference (CFDs) and rolling-spot foreign exchange (Forex) with a leverage greater than 10:1, or Binary Options to Retail Clients, through branch or cross border, in the territory of the Spanish Regulator, the Comisión Nacional del Mercado de Valores (CNMV). Regulator’s legislation: Annex 1 issued by the...Read More
Through the Circular, CySEC informs the Regulated Entities regarding the Q & A published by the EBA regarding the ‘Country-by-country reporting’ requirements as set in Part II, Section 2, Paragraph 18 of Directive DI144-2014-14, for the Prudential supervision of investment firms, which represents the transposition of Article 89 of the Directive 2013/36/EU of the EU Parliament and of the Council of 26.06.13. The said Q...Read More
Through the Circular, CySEC informs the Regulated Entities that the Joint Committee of the three ESAs, launched on 31.05.17 a public consultation on draft RTS specifying how credit and financial institutions should manage ML and TF risks where a third country’s law prevents, the implementation in their branches or majority-owned subsidiaries of group-wide policies and procedures on anti-ML and countering TF. The said RTS have...Read More
Through the Circular, CySEC informs the CIFs and the persons who effectively direct the business of CIF of the obligations provided in Article 32 of the Investment Services and Activities and Regulated Markets Law, as amended (‘the Law’), which include: “(1) A CIF must notify the Commission, along with all information needed to assess whether the new persons to be appointed are of sufficiently good...Read More
