The Cyprus Financial Services Firms Association hereby announces a new service for its Members.
The CIR package of information in XBRL format is offered for the amount of €600+19% per year.
This package must be submitted to the Central Bank of Cyprus on a yearly basis, from all CIFs which are offering the Investments Services of Dealing on own account and/ or Underwriting of financial instruments.
For more information please contact us either by phone (22 815725)or via email email@example.com
On 6 May 2021, the European Banking Authority (EBA) issued a consultation of draft regulatory technical standards on a central database on anti-money laundering and countering the financing of terrorism in the EU, as a key tool for its recently enhanced mandate to lead, coordinate and monitor AML/CFT efforts in the EU.
According to RTSs, EBA is required to develop, establish and keep up to date a database which will contain information on AML/CFT weaknesses that have been identified by Member State competent authorities as well as the measure taken by them, in response to those weaknesses.
The consultation proposed, specify the type of information collected, the practical implementation of the information collection and the analysis and dissemination of the information contained therein.
It also set out the rules to ensure confidentiality and efficiency of the data of the database.
The deadline for comments on the consultation is 17 June 2021.
On 26 April 2021, ESMA announced that it has reached the last stage in the assessment process of applications received from Securitisation Repositories (SRs) under the Securitisation Regulation (SECR).
The obligation to report securitisation transactions to an SR under the SECR will apply as soon as one SR is formally registered. ESMA will inform market participants when the registration of the first SR(s) is completed. ESMA has 40 working days in which to finalise its assessment of the registration and, if favourable, the entity will be registered as a SR five working days after the registration decision is adopted.
ESMA encourages reporting entities to take all necessary preparatory measures to comply with their reporting obligations to a SR.
In an effort to assist not only its Members, the Association has obtain an offer by a competent professional, for the preparation of the legal agreement "Portfolio Agreement of an AIF" in English.
The agreement is available at the price of €300+19%vat for the Members of the Association and for non-Members at the price of €600+19%vat.
If you are interested please press the below field for registration purposess.
The European Commission published a revised methodology for identifying high-risk third countries on 7 May 2020.
Its key new elements are an increased interaction with the Financial Action Task Force (FATF) listing process; an enhanced engagement with the third countries; and reinforced consultation of Member States and the European Parliament.
The updated list refers to the following: Afghanistan, Bahamas, Barbados, Botswana, Cambodia, Ghana, Iraq, Jamaica, Mauritius, Mongolia, Myanmar/Burma, Nicaragua, Pakistan, Panama, Syria, Trinidad and Tobago, Uganda, Vanuatu, Yemen, Zimbabwe.
You are hereby informed that the Association has obtained a positive legal opinion from a Law Firm in Russia according of which CIFs are allowed to provide investment and ancillary services and/or perform investment activities inter alia to clients located in the Russian Federation, without the need of authorisation by the competent supervisory authorities of the country.
A certified copy of the legal opinion is available from the Association for its Members at the price of €500+19%vat and for non-Members at the price of €700+19%vat.
For any additional questions or clarification please contact us via phone (22 815725) or via e-mail: