The growing fund industry in Cyprus

In just a few years, Cyprus has become one of the top emerging investment fund centers in Europe. At the end of the third quarter of 2021, the amount of Assets under Management of Cypriot investment funds reached €11.6 billion, and the island’s growth rate has far outshined that of other European countries. Xenia Neophytou,…

CySEC’s requirements for Heads of Compliance and MLCOs

CySEC’s requirements for Heads of Compliance and MLCOs

Cyprus Securities and Exchange Commission (the “CySEC”) from time to  time performs onsite inspections to its Regulated Entities to assess their compliance with the Prevention and Suppression of Money Laundering and Terrorist Financing Law (‘the Law’) and the CySEC’s Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing (‘the Directive’). Although CySEC…

Cyprus Investment Firms (CIFs) – All you need to know

Cyprus Investment Firms (CIFs) – All you need to know

The financial sector in Cyprus is continuously growing. Our company has been successfully obtaining licences for our clients for the authorisation of Investment Firms (CIFs), Investment Funds (AIFS and AIF Managers) and Electronic Money Institutions (EMIs). We undertake, advise and support with the application process. We fully support them in setting up their business, maintaining it operational and addressing their post-licensing…

CySEC’s Press Release

CySEC’s Press Release: “Cyprus capital market remains on an upward trajectory”

CySEC published a new press release titled “Cyprus capital market remains on an upward trajectory”. As mentioned in the press release, Mrs Demetra Kalogerou, Chairwoman of the Cyprus Securities and Exchange Commission, highlighted that despite a difficult financial environment, the Cyprus capital market keeps on growing. Yesterday, the 17th of March 2021, there was a…

CySEC

CySEC C432 – Opinion of the European Banking Authority on the risks of money laundering and terrorist financing

Circular 432 of CySEC informs the Regulated Entities (CIFs, ASPs, UCITS Management Companies, Internally Managed UCITS, AIFMs, Internally Managed AIFs, Internally Managed AIFLNPs and Companies with the sole purpose the management of AIFLNPs) of the following: The European Banking Authority (EBA) published its Opinion on the risks of money laundering and terrorist financing (ML/TF) affecting…

Money Laundering and The Cost Of Non-Compliance

Money Laundering and The Cost Of Non-Compliance

The risk of money laundering is an issue that exists worldwide and institutions across the globe are scaling up their prevention mechanisms to detect and prevent the laundering of illegally obtained funds or property. AML professionals and money launderers are engaged in a constant “fight” – with AML professionals on the one hand building protection…