New Form CBRT-CIF, Freedom to Provide Investment Services and Activities (Cross Border Activity) – Further clarifications and information requested
On December 8, 2022, CySEC released Circular C539 to give Cyprus Investment Firms (or “CIFs”) further clarifications regarding the Form CBRT-CIF, Freedom to Provide Investment Services and Activities (Cross Border Activity), also known as the “Form.”
It is necessary to read Circular C539 in conjunction with Circular C537.
With this Circular C538, CySEC notifies the CIFs that they must notify CySEC if they do not need to fill out and submit the Form for the reference year 2022 because they do not have 50 retail clients (including clients treated as professionals on request in accordance with Section II of Annex II of MiFID II) in each EEA country listed in the Form.
In this regard, CySEC notifies the CIFs that they must complete the “Declaration of Non-Applicability of Form CBRT-CIF from CIFs” document, which is an Appendix to this Circular C539.
CIFs shall send this Appendix to CySEC by email to [email protected] by 15:00 hrs, Friday, 27th of January 2023, the latest.
Additionally, CySEC notifies the CIFs of a change to the instructions at point 3.4.2.8 of Circular C537 with this Circular C539.
The Circular C539’s Appendix contains the document “Declaration of Non-Applicability of Form CBRT-CIF from CIFs.”
Find the Circular C537 here
Read the CySEC Circular C539
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