Home / Archive by category "Our News and Updates"

Our News and Updates

AML Compliance Officers’ Examinations

CySEC Announcement dated 17th December 2019 on the “ AML Compliance Officers’ ” Examinations The Cyprus Securities and Exchange Commission (CySEC) would like to inform all the interested parties that it will initiate the conduct of the examinations for the certification of the Anti-Money Laundering Compliance Officers (AMLCOs) in February 2020.The said examinations are conducted by CySEC to...
Read More

Circular C343 dated 25.10.2019

 Circular C343 dated 25.10.2019 regarding the thematic review of best execution obligations of Cyprus Investment Firms (CIFs)CySEC carried out a review of the Best Execution arrangements put in place by CIFs to ensure compliance with the provisions of Article 28 of the Investment Services and Activities and Regulated Markets Law (“the Law”).Circular C343 sets out CySEC’s observati...
Read More


Following the successful conclusion of a rigorous approval process covering matters that relate to KYC, Compliance and Ethics Standards, IBM Global Business Services, the largest consulting services organization in the world, has approved MNK RISK CONSULTING LTD as a QUALIFIED IBM SUPPLIER. Past and current client engagements include large-scaled consulting projects with central banks and internat...
Read More

CySEC issued Circular C334 (“the Circular”) dated 07.08.19

CySEC issued Circular C334 (“the Circular”) dated 07.08.19 requiring from all CIFs to keep in a separate EU Bank account an additional cash buffer in case there is a need for an extraordinary contribution to the Investors Compensation Fund (“ICF”).In particular:The minimum additional cash buffer amount is set at 0.3% of the eligible funds and financial instruments of a CIF’s clients as a...
Read More

Appointment of Depositary for AIFs

17 July 2019Appointment of Depositary for AIFsRelevant to:Alternative Investment Funds (“AIFs”) Alternative Investment Funds with Limited Number of Persons (“AIFLNP”); Registered Alternative Investment Funds (“RAIFs”).The Cyprus Investment Funds Association (“CIFA”) has prepared a Summary outlining the requirements for the appointment of a Depositary to the different types...
Read More

Recent Developments boosting Cyprus’ Economic Outlook

The Government of Cyprus issued its first ever 15 year bond at 2.75%. The EUR 1bn Bond was oversubscribed more than 8 times!The Republic of Cyprus, successfully launched a first ever 15-year bond, due 26 February 2034, the longest in its history. The EUR1bn bond carries a coupon of 2.75%. Citi, Goldman Sachs and HSBC were joint book runners. The success of this transaction highlights the s...
Read More

Cyprus domiciled funds are now available in Vestima

07.01.2019 Clearstream headlines “Clearstream has further expanded its Vestima offering by making Cyprus domiciled investment funds eligible for order routing, settlement and custody. International customers can use their Vestima setup to directly access Cyprus domiciled funds and benefit from the same streamlined handling as for other markets. With assets under management (AUM) having more than d...
Read More