Home / Regulatory Developments / CySEC Announcement dated 20.02.17 – Regarding Amending Directive R.A.D. 22/2017 regarding the Certification of Persons and the Certification Registers

CySEC Announcement dated 20.02.17 – Regarding Amending Directive R.A.D. 22/2017 regarding the Certification of Persons and the Certification Registers

We would like to draw your attention to CySEC Announcement dated 20.02.17 regarding the Amending Directive R.A.D 22/2017 to Directive R.A.D. 174/2015, which is now published as a Consolidated Directive 2017 (“the Directive”).

The purpose of the Amending Directive R.A.D. 22/2017 is:

  1. Any deleted from the Public Register person, due to failure to renew its registration as per Section 17 of the Directive, may request re-registration in the corresponding certification register that he was registered two (2) times in total, within the set timeframe and provided the below two (2) conditions are met:
  • Payment of a new added fee; and
  • Coverage of the hours of Continued Professional Development (“CPD”) training that might have been missed.

Such requests may be submitted to CySEC via the relevant Forms (i.e. Registration / Re-registration / Renewal of Registration). Please note that, having exhausted the right of submitting the two (2) requests for re-registration, the provisions of Part II of the Directive will apply, i.e. the relevant person, will be deleted from the certification register due to failure to renew its registration, and thus, should re-sit the examinations. Consequently, ALL the certified persons are requested to proceed with the renewal of their registration by the by the end of February each year (e.g. by 28th Feb. 2017), since from now on, in the case of a non-timely renewal, the new conditions for the renewal of registration shall apply.

  1. Persons deleted from the certification register according to Sections 20(b), (c) and (d) of the Directive (i.e. due to committing a criminal offence or being deemed inappropriate persons or providing false information) can not get re-registered in a certification register.
  1. From 1st March 2017 onwards, the hours of CPD training as specified in Section 17(2)(a) of the Directive, are increased to:
  • 10 hours of CPD training for the Basic Certification holders
  • 15 hours of CPD training for the Advanced Certification holders
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