The Cyprus Securities and Exchange Commission (the ‘CySEC’) is the regulator which authorises and supervises amongst others, Cyprus Investment Firms / Forex (CFDs) Brokerages / Traditional Brokerages in Cyprus. Cyprus is part of the European Union, thus, a CySEC licensed...
CySEC issued Circular C462 to inform the CIFs that is amending Circular C417 regarding the prudential treatment of crypto assets. Therefore, the prudential treatment of crypto assets will be as follows: A. Calculation of own funds and capital adequacy ratio...
CySEC has issued the Circular C458 on July 14th, 2021, to inform Cyprus Investment Firms (“CIFs”) that CySEC’s Circular C418 ‘Enhancement of procedures regarding safeguarding of client funds held by CIFs’ shall be amended. Specifically, the amendment refers to the...
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Crypto asset service providers is a new concept that was introduced in Cyprus with the transposition of the Fifth Anti-Money Laundering Directive into national legislation. The amended AML legislation was introduced on 25 June 2021 and regulates the digital...
FiveComply has attended today CySEC’s digital event “CySEC 25 Years: The Past, Present and Future of Financial Development and Innovation” which discussed various interesting topics relating to the growth and expansion of CySEC and the evolvement of the...
Following its June 2021 plenary meeting, the Financial Action Task Force (‘FATF’) has confirmed that an onsite inspection will be conducted in Mauritius in order to assess the implemented AML/CFT measures / reforms and the progress made in order to decide...