CySEC gives Cyprus Investment Firms one week to submit data about directors

Maria Nikolova

CIFs have until March 6, 2019, to submit information concerning members of their Board of Directors and Compliance Officers.

The Cyprus Securities and Exchange Commission (CySEC) has earlier today posted a Circular concerning Cyprus Investment Firms (CIFs).

The circular gives the regulated entities seven days to respond to CySEC’s request for the electronic submission of information concerning contact details and appointed persons. In particular, CySEC requests CIFs to complete Form RECD for the submission of information of contact details concerning members of the Board of Directors and Compliance Officers (‘the appointed persons’).

The form must be submitted only in electronic form by email, at the email address [email protected] by Wednesday, March 6, 2019. CySEC emphasises the importance of meeting the deadline and stresses that NO extension will be granted.

The requested information will be used to update CySEC’s records.

Failure to promptly and duly comply with the requirements will result administrative penalties as stipulated in section 37(5) of the CySEC Law. It is further noted that CySEC will not send any reminders to those who fail to promptly and duly comply.

CIFs must ensure that the submitted information of Form RECD must match the information already submitted by a CIF at the CySEC’s CIFs portal. In case of discrepancies, the CIF must immediately proceed with the submission of an updated dataset on the CySEC’s portal.

The form includes several fields, including general information about the entity, as well as details about the entity’s compliance officer, and AML compliance officer. The form also requires filling in information about the Board of Directors of a licensed entity.

Speaking of CySEC, let’s mention that the regulator has recently relocated, with the CySEC’s address now being the following:

19 Diagorou Street, 1097 Nicosia, Cyprus.

Read this next

Industry News

Kim Kardashian fined $1 million for touting EMAX tokens on social media

“Investors are entitled to know whether the publicity of a security is unbiased, and Ms. Kardashian failed to disclose this information.”

Retail FX

INFINOX launches IX Exchange platform with +20,000 markets in UK

“The launch of IX Exchange is a statement of intent for our growth strategy and a game-changer for our clients’ trading potential.”

Retail FX

Saxo issues gloomy report for Q4 2022 and beyond

Globalisation was the biggest driver behind low inflation over the past 30 years and instrumental for emerging markets and their equity markets. Globalisation in reverse will cause turmoil for trade surplus countries, put upward pressure on inflation and threaten the USD as the reserve currency.

Executive Moves

ICE appoints Caterina Caramaschi to oversee interest rates and equity derivatives

“As the head of a product set covering some of the biggest interest rate and equity derivative benchmarks, at a time when investor’s priorities are firmly focused on interest rate changes and the outlook for global economies, Caterina’s two decades of financial market experience, and the relationships cultivated during that, will be invaluable in developing these products to the benefit of our customers.”

Retail FX

Plus500 sponsors Chicago Bulls ahead of trading platform launch in United States

Plus500 has signed a major multi-year sponsorship deal to become an official global partner of iconic NBA team Chicago Bulls. 

Technology adds stock options APIs to market data platform that includes FX and Crypto has launched a new set of stock options APIs to its entirely self-serve real-time data APIs, which includes stocks, crypto, forex, and options APIs free to use.

Market News

What’s in store for markets this week!

After The UK government unveiled their top tax rate cut, setting fire to GBP Cross pairs, prompting an intensive sell-off on the cable


FinanceFeeds Podcast Ep. #7: Exness’s Elena Krutova shares how to recruit the best talent in FX

FinanceFeeds is delighted to announce the release of the FinanceFeeds Podcast’s seventh episode featuring Elena Krutova, Chief People Officer of Exness, the renowned FX and CFD broker headquartered in Cyprus.

Executive Moves

Crculus taps Michael Idzkowski as head of sales

Michael Idzkowski has joined Crculus, a UK-based startup that describes itself as a multi-custody middleware infrastructure for financial institutions, in the post of its head of sales.