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Our News and Updates

CySEC Examinations Announcement

CySEC issued an announcement on the 24th March 2020 regarding the postponement of all certification examinations, due to the confirmed cases of the COVID-19 in Cyprus. The certification examinations are postponed until the 30th April 2020.Candidates already registered for the exams shall be informed at a later stage of the new exam dates.Re CySEC Certification and AML Exam please note:...
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Coronavirus (COVID-19) Announcement

In the light of the recent corona virus spread developments, MNK RISK CONSULTING Ltd would like to assure you that we are taking all necessary measures to ensure business continuity and the timely submission of your regulatory deliverables. Your regulatory compliance is our priority.We offer uninterrupted service through video conference meetings and conf calls, remote support via email corres...
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Increase of Assets under Management of Cyprus Collective Investments

Cyprus Securities and Exchange Commission (CySEC) issued on the 5th March 2020 the Quarterly Statistical Publication for Management Companies and Undertakings of Collective Investments (UCIs) which provides CySEC’s key findings regarding the Collective Investments Sector in Cyprus.Based on the statistics, the total Assets under Management (AuM) for the 4th quarter of 2019 amounted to € 8.3 bil...
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New player in fintech town

A Limassol-based fintech startup, eCredo, plans to revolutionise e-payments with quick and low-cost transfers, as high street banks continue to charge high rates, frustrating customers who are seeking alternative ways to do business.“E-payment is the electronic means of making payments in what is still a developing sector of the economy,” said a senior eCredo executive.“We are a young busi...
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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...
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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...
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IBM has approved MNK RISK CONSULTING LTD as a QUALIFIED IBM SUPPLIER

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...
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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...
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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...
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