Through the Circular, CySEC wishes to clarify that, the “date of authorisation” referred to in Paragraph 2 of Circular 191, is: the date on which a CySEC Regulated Entity is informed of its license number; and the relevant information of the Regulated Entity is posted on CySEC’s website, under the section “Regulated Entities”. CySEC’s expects...Read More

Through the Circular, CySEC wishes to inform the Regulated Entities that, it has adopted the joint Guidelines on the assessment of the suitability of the members of the management body and key function holders, issued by the European Securities and Markets Authority (“ESMA”) and the European Banking Authority (“EBA”). The Guidelines specify: the requirements regarding...Read More

Through the Circular and following Circular C219, CySEC wishes to remind the Regulated Entities of the Risk Factors Guidelines issued by the Joint Committee of the European Supervisory Authorities (“ESAs”), regarding simplified and enhanced customer due diligence and the factors credit and financial institutions should consider when assessing the money laundering and terrorist financing risk...Read More

Through the Circular, CySEC introduces amending Law No. 13(I)/2018 which amends Article 5A of the Law, and provides for the following: “It is forbidden to persons that are trading in goods such as precious stones or metals, motor vehicles, works of art and / or antiques, in the context of their business activities to receive...Read More

Through the Circular, CySEC wishes to inform the Regulated Entities about the following: The FATF Guidance focuses on risk-based approach (“RBA”) for the securities sector, it takes into account the experience gained by the public authorities and the private sector over the years and includes an annex on suspicious activity indicators in relation to securities....Read More

Further to Circular C210 dated 17.05.17, CySEC informs Cypriot Investment Firms (“CIFs”) regarding the abovementioned subject with particular emphasis to the below: CIFs must include relevant warnings as advised in Circulars C210 and C248, on the homepage of their website and not relegate any warning to other part of their website with less direct access....Read More

Through the Circular, CySEC wishes to inform Cyprus Investment Firms (“CIFs”) regarding the following: EBA issued an opinion on the design and calibration of a new prudential framework for Investment Firms dated 29.09.17 (“the Opinion”), that is specifically tailored to the needs of Investment Firms’ different business models and inherent risks; EBA has developed the...Read More

Further to C237 and C238, CySEC wishes to inform Cyprus Investment Firms (“CIFs”), Credit Institutions, Market operators of Trading Venues (“TVs”),  Approved Reporting Mechanisms (“ARM”) (“the Reporting Entities”) and Issuers that, ESMA issued a Public Statement dated 09.10.17 regarding a Briefing on the LEI. The briefing is part of ESMA’s efforts to raise industry awareness...Read More

Through the Circular, CySEC informs CIFs regarding the provision of services on virtual currencies and / or on CFDs relating to virtual currencies. At the moment there is no specific EU regulatory framework governing the trading on virtual currencies and / or trading on CFDs relating to virtual currencies. In addition, there is no official...Read More

Following Circular C115 relating to EMIR, CySEC informs the Cypriot Investment Firms, UCITS and Management Companies, AIFs managed by AIFMs and Non-Financial Counterparties (“the Regulated Entities”), on the amendments made in the EU regulatory framework regarding EMIR; particularly in respect of the: Clearing obligation A number of delegated regulations were published by the EU Commission...Read More