ESMA: Supervisory briefing – provisions of Copy Trading Services

The European Securities and Markets Authority (ESMA) published last week, a supervisory briefing on firms offering copy trading services, in accordance with its objective of fostering investor protection and actively promoting supervisory convergence across the Union. This briefing...

Recent changes to FATF grey list: South Africa and Nigeria added

The Financial Action Task Force (FATF) is a global anti-money laundering watchdog that monitors and assesses countries’ efforts in combating money laundering and terrorism financing. Recently, on 24 February 2023, FATF added, among others, South Africa and Nigeria to its...

ESMA’s initial analysis of the implications that FTX’s collapse might have on crypto-assets market

The European Securities and Markets Authority (ESMA) published their latest newsletter for November 2022, #ESMA “Spotlight on Markets”, in which there is a reference on the opening statement of Steffen Kern (ESMA Head of Risk Analysis and Chief Economist), who...

Guidance Notes issued by FSC Mauritius on the Regulatory Treatment of Non-Fungible Tokens (NFTs)

The Financial Services Commission (FSC), following the enactment of the Virtual Asset and Initial Token Offerings Services Act (“VAITOS Act”), and the guidance issued by the Financial Action Task Force (FATF) relating to Virtual Assets and Virtual Assets Service Providers, has...

FSA Seychelles: Guidelines on the submission of the Annual Compliance Form required for Securities Dealers

The Financial Services Authority (FSA) of Seychelles, via the issuance of its Circular on 29th of November 2022, wishes to provide clarifications regarding the contents of the Annual Compliance Form required to be submitted by Securities Dealers. The Annual Compliance Form is...

CySEC Circular C534 – Provision of investment and ancillary services and/or performance of investment activities in third countries

During their Board meeting, the Cyprus Securities and Exchange Commission (“CySEC”) concluded to the replacement of Circular 256 by issuing Circular C534, regarding the provision of investment and ancillary services and/or performance of investment activities in third...

Judgement of the EU Court of Justice – Suspension of the BO Register

On 22 November 2022, the European Court of Justice (ECJ) has decided that open public access to the registers of the beneficial owners (BO) of companies registered in EU member states is no longer valid, as it contravenes with Articles 7 (Respect for Private Life) and 8...