About the Regulatory Blog and our contributors
The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Anguilla, Bermuda, Cyprus, and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.
${totalItems} results
${customFilterHeading} Showing ${showingItems} of ${totalItems} results ${searchTerm}
${facet.Name} (${facet.TotalResults})
Streamlining licensing for Cyprus Investment Firms – MiFID II and MiCA
At present, Cyprus-based crypto exchanges that wish to provide services both in relation to spot crypto products and financial instruments such as crypto derivatives are subject to dual-licensing under the local AML legislation and the traditional investment services regime implementing EU Directive 2014/65/EU. The Cyprus Securities and Exchange Commission administers both regimes.
25 Apr 2024
ESMA consults on essential MiCA draft guidelines: Reverse solicitation and financial instruments
On 29 January 2024, the European Securities and Markets Authority published two consultation papers relating to draft guidelines proposed to be issued under Regulation 2023/1114 on markets in crypto-assets.
09 Feb 2024
CySEC issues circular relating to EBA guidelines on outsourcing
On 13 October 2023, the Cyprus Securities and Exchange Commission (CySEC) published Circular 604 directing Cyprus Investment Firms (CIFs) to familiarise themselves with the European Banking Authority's guidelines on outsourcing, published on 2 February 2019 (Guidelines).
10 Nov 2023
CySEC's Circular on forced transfers of Russian securities
On 11 September 2023, the Cyprus Securities and Exchange Commission (CySEC) issued Circular 596 regarding Russian Federation Federal Laws No. 319-FZ (Law 319-FZ) and No. 519-FZ (Law 519-FZ), which concern certain transfers of Russian securities, known as forced transfers, further defined below.
18 Sep 2023
ESMA warns of the risks arising from the provision of unregulated products and/or services by investment firms
On 25 May 2023, the European Securities and Markets Authority (ESMA) issued a public statement warning investors about the risks associated with investment firms offering both regulated and unregulated products and services. ESMA emphasises that retail investors often rely on the reputation of an investment firm, which may in turn lead them to overlook the potential risks of unregulated products and services, known as the "halo effect". More specifically, such an overlook commonly occurs when unregulated products have a similar purpose to regulated financial instruments governed by MiFID II.
21 Jul 2023
CySEC Circular on risk-based supervision and electronic reporting for 2022
On 12 May 2023, the Cyprus Securities and Exchange Commission (CySEC) issued Circular 573 announcing the release of the new version of the RBSF-MC Form (Version 6). This form is an annual requirement for all regulated entities and collects statistical information.
30 May 2023
ESMA launches joint supervisory action with NCAs on marketing communications for financial products
On 16 January 2023, the European Securities and Markets Authority (ESMA) announced that it is launching a common supervisory action with national competent authorities (NCAs) on the application of MiFID II disclosure rules with regard to marketing communications across the European Union.
10 Feb 2023
CySEC extends the suspension of FTX Cyprus licence
On 22 December 2022, the Cyprus Securities and Exchange Commission (CySEC) issued a decision extending the suspension of the MiFID II licence of FTX (EU) Ltd (FTX EU).
20 Jan 2023
ESMA seeks input on rules for passporting for investment firms
On 17 November 2022, the European Securities and Markets Authority (ESMA) published a consultation paper on the review of the technical standards under Article 34 of the Markets in Financial Instruments Directive, covering the provision of investment services across the European Union.
28 Nov 2022