CySEC – Circular 462 

The Cyprus Securities and Exchange Commission has issued a Circular 462 on 3rd of August 2021, with subject of (Prudential treatment of crypto assets and enhancement of risk management procedures associated with crypto assets), would like to inform the CIFs that is amending CySEC’s Circular C417 ‘Prudential treatment of crypto assets and enhancement of risk management procedures associated with crypto assets’ by amending paragraph A2.

Read more

CySEC –  (Register of Crypto Asset Service Providers)

The Cyprus Securities and Exchange Commission has issued on the 25th of June 2021, with subject of (Directive for the prevention and suppression of money laundering and terrorist financing (Register of Crypto Asset Service Providers).

 Read more (link in greek)

CySEC – Circular 445

The Cyprus Securities and Exchange Commission has issued a Circular 445 on the 26th of April 2021, with subject of (Extension of reporting/notification deadlines), informing the Cyprus Investment Firms (CIFs), that due to COVID-19 and in an effort to ensure operational continuity, the deadlines for a submission to CySEC of the following reports/notification are extended.

   Annual reports/notifications

1. Annual Compliance Function Report
2. Annual Risk Management Report
3. Annual Internal Audit Report 
4. Annual Audited Financial Statements 
5. Annual Auditors’ Suitability Report

Due to the aforementioned and in order to help with any uncertainty and disruption to the CIFs’ business operations, CySEC will comprehend a delay of two (2) months to submit the above listed reports/notifications that would otherwise have been due April 30, 2021. 

Read more

CySEC – Circular 437

The Cyprus Securities and Exchange Commission has issued a Circular 437 on the 21st of April 2021, with subject of (Common weaknesses/deficiencies and good practices identified during the onsite inspections performed in relation to the prevention of money laundering and terrorist financing), which relates to the following Regulated Entities:

1. CIFs 
2. ASPs 
3. UCITS Management Companies 
4. Internally managed UCITS 
5. AIFMs 
6. Internally managed AIFs 
7. Internally managed AIFLNPs 
8. Companies with sole purpose the management of AIFLNPs

More specifically: Read more

CySEC – Circular 433 

The Cyprus Securities and Exchange Commission has issued a Circular 433 on the 16th of March 2021, with subject of (Requirements of the Portuguese Securities and Exchange Commission (the ‘CMVM’) regarding the appointment of tied agents in the territory of Portugal), which hereby draws the attention of the Cyprus Investment Firms (the ‘CIFs’), which intend to appoint Tied Agents to offer their services in the territory of Portugal, to CMVM’s regulatory rules regarding the persons that are allowed to provide such services.

More specifically: Read more

FSA Seychelles – Circular No 3 of 2021  

The Financial Services Authority (FSA) of Seychelles has issued the Circular No. 3 on the 5th of March 2021, with subject of (Acceptance of digitally signed documents) and the aim of notifying all stakeholders of the Financial Services Authority’s (the Authority) acceptance of electronic documents that have been digitally signed and should be read in conjunction with the previously issued Circular No.13 of 2020 which outlines the current framework for authentication and acceptance of digital signatures.

In line with the Electronic Transactions Act, 2001 and the Electronic Transactions (Affixing of Digital Signature) Regulations, 2018, the Authority has taken a policy decision to accept only documents which are digitally signed using digital certificates issued by certifying authorities from DocuSign. The principal reason for such stems from an assured validation process which provides additional security to the Authority. 

Read more

CySEC – Circular 432

The Cyprus Securities and Exchange Commission has issued a Circular 432 on the 16th of March 2021, with subject of (Opinion of the European Banking Authority on the risks of money laundering and terrorist financing affecting the European Union’s financial sector), which relates to the following Regulated Entities:

1. CIFs
2. ASPs
3. UCITS Management Companies
4. Internally managed UCITS
5. AIFMs
6. Internally managed AIFs
7. Internally managed AIFLNPs
8. Companies with sole purpose the management of AIFLNPs

Read more

FCA UK – Brexit Countdown for UK financial services sector
 

Issued on 24 December 2020 

With one week to go until the end of the Brexit transition period, the FCA is urging financial services companies to ensure they are ready. Customers should also be aware of any changes that may apply to them. Irrespective of the outcome of the negotiations between the UK and the EU on a free trade agreement, firms will need to be prepared for the end of the transition period.

Read more