Monthly Archives: October 2018

Identification of systemically important Cyprus credit institutions

Directive 2013/36/EU on the prudential supervision of credit institutions and investment firms requires what the directive defines as “systemically important institutions”, that is, institutions of such significance that their failure or malfunction could lead to systemic risk, to maintain appropriate contingency buffers of common equity tier one capital, over and above the levels required for

Extension of controls on sale of binary options and contracts for difference to retail investors

The Cyprus Securities and Exchange Commission has notified Cyprus Investment Firms it regulates that the European Securities and Markets Authority has extended its controls on binary options and contracts for difference. The prohibition on the marketing, distribution or sale of binary options to retail clients, which has been in effect since 2 July 2018, has

Cyprus Securities and Exchange Commission guidance on reporting by “Systemic Internalisers”

The Cyprus Securities and Exchange Commission (“CySEC”) has issued a circular (C283 dated 24 October 2018) to Cyprus Investment Firms (“CIFs”) that it regulates regarding their obligation to provide information to CySEC if they fall within the definition of “systemic internaliser” (“SI”) set out in article 2(1) of the Investment Services and Activities and Regulated

The Limassol Economic Forum

Elias Neocleous & Co LLC was one of the main sponsors of the ninth Limassol Economic Forum, which took place on 19 October, attracting a record number of more than 450 participants from Cyprus and overseas, and receiving extensive coverage in the local and international media. The Limassol Economic Forum is the largest and most

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