Through the Circular, CySEC informs the Regulated Entities that the European Banking Authority (EBA) published on 14.12.16, the final Guidelines (EBA/GL/2016/11) on disclosure requirements under Part Eight of Regulation (EU) No 575/2013 of the EU Parliament and of the Council of 26.06.13 on prudential requirements for credit institutions and investment firms and amending Regulation (EU)...Read More

Through the Circular, CySEC informs the CIFs which freely provide investment services in accordance with Article 79 of Law 144(I)/2007 as amended (“the Law”), in the territory of Poland, regarding KNF’s new rules that entered into force on 29.04.17, regarding the persons that are allowed to provide such services. Particularly: Pursuant to article 79(2)(a) of...Read More

Please note that the Circular applies only to CIFs that: are licensed to perform the investment activity of paragraph 4, Part I of Annex III of the Law (Dealing on Own Account); and/or provide the investment service of paragraph 6, Part I of Annex III of the Law (underwriting and/or placing of financial instruments on a...Read More

Through the Circular, CySEC informs the Regulated Entities that the Joint Committee of the three ESAs, launched on 05.04.17 a public consultation on draft Guidelines that set out: what payment service providers (“PSPs”) should do to detect and prevent the abuse of funds transfers for terrorist financing and money laundering purposes; and particularly what the...Read More

Through the Circular, CySEC informs the Regulated Entities that a new CIF Record Content has been established in replacement of the existing one that was submitted using XML files via the TRS System. The present Circular replaces the following Cyprus Securities and Exchange Commission (‘the Commission’) circulars that are no longer in effect: CI144-2012-01 30...Read More

The definition of Affiliates includes:   those third parties with whom a CIF may often engage across multiple jurisdictions, to promote the brand of the CIF online, use their website as a portal for displaying promotional and advertising content, host marketing material and direct web-traffic to the authorised CIF’s website, increase the online profile of the...Read More

Through the Circular, CySEC informs the Regulated Entities that provide investment services relating to financial contracts for difference (CFDs) to Retail Clients, through branch or cross border, in the territory of the German Regulator, the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). Regulator’s legislation:   General Administrative Act regarding CFDs dated 08.05.17; Enforcement date:   10.08.17 (within 3 months from...Read More

Through the Circular, CySEC informs the CIFs that following Circular C204 issued on 04.05.17 and after taking into consideration the requests made by a number of CIFs, the submission deadline for the information requested via Circular C204 is extended to 31.07.17. CySEC’s expects that: All the information requested by CySEC via Paragraph 2 of Circular...Read More

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...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...Read More