This summer, on the 25th of June, cyprus securities and exchange commission released its directive on the Crypto-Assets Service Provider register (CASP Directive), which main objective is formation of subsidiary legislation, issued under the section 61E of the Cypriot Prevention and Suppression of Money Laundering Law 2007. In addition to that, on the 13th of September, CySEC issued a Policy S...
Path: Blog...o-way working relationship with FinTech and RegTech developments.** Regulatory and financial technologies initiatives have been spreading across the globe over the past few years. In late July of 2018, the main Cyprus financial regulator, the **cyprus securities and exchange commission (CySEC), announced that it would also be creating an Innovation Hub**. The regulator assured that the Inn...
Path: Blog...onment for a Forex broker firm. It is a well-known and is one of the top choices in the EU for acquiring of a financial license. It follows very strict rules and regulations as implemented by the financial services authority of Cyprus (CySEC – The cyprus securities and exchange commission).Incorporation & obtaining license: from 5 to 9 months Minimum paid up capital: EUR ~ 125,0...
Path: Licensing**The cyprus securities and exchange commission (CySEC) recently has announced that Cyprus Investment Firms (CIFs) are required to fill in a new form detailing their trading volumes for 2018.** The aforementioned forms require retail brokers to indicate their trading volumes for the past year. CIFs are obliged to classify their volumes into asset sub-classes and include all undertaken trades. ...
Path: Blog...te the retail trading industry, relating to contracts for difference (CFDs).**According to the expectation, the FCA aims to adopt leverage caps for CFDs from 2:1 to 30:1. Similar limitations were introduced by ESMA in August of 2018. **The CySEC, cyprus securities and exchange commission, is another regulator that declared its readiness to implement relevant national measures.** Read our blo...
Path: Blog**The cyprus securities and exchange commission (CySEC) has announced new national measures that restrict the distribution, sale, and marketing of contracts for difference (CFD).** New CySEC measures are largely aligned with the ESMA (European Securities and Markets Authority) restrictions for offering CFDs to retail clients. ESMA, for its part, published an opinion concluding that measures adopt...
Path: BlogLocal Cyprus regulator cyprus securities and exchange commission (CySEC) on Monday May 4th, published Consultation Paper on enhancement of procedures regarding safeguard of client funds held by Cyprus Investment Firms (CIFs). The regulatory authority will accept responses to the consultation paper by May 18, 2020. CySEC intends to publish a circular that will further enhance the procedures tha...
Path: BlogAs the world is focusing on responding to the COVID-19 pandemic and financial crimes benefiting from COVID-19 fears skyrocketed in recent months the cyprus securities and exchange commission (CySEC) has ordered all regulated entities under it to implement the Financial Task Force (FATF)-recommended pandemic-related anti-money laundering (AML) and counter-terror financing (CFT) policies. The offic...
Path: Blog... low investment risk possibility to set up an umbrella fund General information Company structure Must always appoint a depositary/custodian or any other company subject to prudential supervision (are exceptions depending on the fund) cyprus securities and exchange commission (CySec) requires a minimum of two executive Directors Taxation Cyprus tax laws are designed to su...
Path: Licensing