Brexit Impact – Circular 201

May 2, 2017

In accordance with Circular C201 – Possible impact of the UK’s exit from the EU on the activities and services of Cyprus Investment Firms, issued by CySEC, all Cypriot Investment Firms must prepare and letter to CySEC informing for the preparations the firm is making to prepare for the effects from United Kingdom exit from European Union. Each firm is responsible of analyzing the impact of Brexit in relation with their business model and state the actions taken or to be taken by the firm. Some common areas that need to be refer to are:

  • Bank accounts in GBP
  • UK financial instruments
  • UK clients

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