Provision of Warnings in Spain – C248

Following Circular C210 CySEC issues Circular C248 – Requirements of the Spanish Securities and Exchange Commission (‘the CNMV’) regarding the provision of warnings on complex financial instruments to retail clients resided in Spain, expanding on the requirements for mentioned warnings when providing services to clients within the territory of Spain. In summary a CIF must:…

Regulation on Virtual Currencies – C244

As in accordance with CySEC Circular 244 – Trading in virtual currencies and/or trading on contracts for differences relating to virtual currencies, CySEC sets preliminary regulatory requirements regarding the trading of virtual currencies or related contracts of differences in anticipation of the official position of European authorities. It should be noted that there is no specific EU…

Remuneration Guidelines – C240

With Circular C240 – Guidelines on sound remuneration policies issued by the European Bank Authority, CySEC draws the attention of Cypriot Investment Firms to Guidelines on sound remuneration policies – EBA/GL/2015/22. CIFs must comply with the regulatory requirements and design sound remuneration policies and that do not raise conflict of interest between CIF’s clients and CIF’s personnel…

New Marketing Condition in Latvia – C239

In accordance with Circular 239 – Financial and Capital Market Commission of Latvia (the “FCMC”) – Law on the Financial Instruments Market regarding the natural and legal persons that are allowed to provide/ perform investment services/ activities in the Republic of Latvia, CySEC informs Cypriot Investment Firms to adjust their business models to include new specifications when soliciting clients…