Through the Circular, CySEC aims to inform the Regulated Entities that provide investment services relating to financial contracts for difference (CFDs) and other complex and speculative products such as Binary Options and Foreign Exchange Contracts to Retail clients, through branch or cross border, in the territory of France. CySEC draws the attention to the new Article L.533-12-7 of the French Law 2016-1691 of 9th December...Read More
Through the Circular, CySEC informs the Regulated Entities that further to Circulars C130, C140 and C141, CIFs shall be expected to report to CySEC on the likely implications that Brexit will have on their activities and services, including any suggestions for adopting immediate measures to eliminate their respective impact. CySEC’s expects that: CIFs look at their business model structure, services and activities in order to...Read More
Through the Circular, CySEC informs the Regulated Entities that ESMA published on 31st March 2017 an updated version of its questions and answers document (the “Q&A”) on the application of the Markets in Financial Instruments Directive (MiFID) to the marketing and sale of financial contracts for difference (CFDs) and other speculative products to Retail clients (such as binary options and rolling spot forex). Although the...Read More
Through the Circular, CySEC informs the Regulated Entities that following Circular C100, they have to submit within five (5) days from the end of each calendar – reporting month, the Complaints Registry – Form “ΧΧ_yyyymmdd_T144-002-01”, in order to inform regarding the complaints received during the reporting month and how these are being handled. The said Form shall additionally include: A relevant field where each CIF...Read More
Through the Circular, CySEC informs the Regulated Entities that: According to Section 6(5) of the 4th EU Anti-Money Laundering Directive 2015/849, the three European Supervisory Authorities (the “ESAs”) namely EBA, EIOPA and ESMA, are mandated to prepare every two (2) years, a joint Opinion on the risks of money laundering (the “ML”) and terrorist financing (the “TF”) affecting the EU financial sector. The ESAs published on...Read More
