European Council: Updated list of non-cooperative jurisdictions for tax purposes

On February 14, 2023, the European Council added Russia, the BVIs (British Virgin Islands), Costa Rica, and the Marshall Islands to its list of non-cooperative jurisdictions for tax purposes. This move reflects concerns over these countries’ tax transparency and anti-money...

New Guidelines by CySEC for Form CBRT-CIF

In continuation of Circular C537, CySEC issued Circular C539 which indicates that the CIFs that do not reach the materiality threshold of 50 retail clients (including clients treated as professionals on request), in each EEA country should inform the Commission accordingly....

Saint Vincent & the Grenadines: New important restrictions for forex brokers

  A formal notice was published last Friday, January 6, by the Financial Services Authority (FSA) of Saint Vincent & the Grenadines (SVG) regarding a new set of requirements for Business Companies (BCs) and Limited Liability Companies (LLCs) engaging in FOREX business...

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: Update of Consumer Protection Bi-Annual Report deadline required for Securities Dealers

The Financial Services Authority (FSA) has announced via the issuance of its Circular on the 5th of December 2022 that the deadline for the submission of the Bi-Annual Report on Consumer Protection will now be the 15th of July 2023 and not the 15th of January 2023 as was...

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...