On 31 January 2019, the Cyprus Securities and Exchange Commission published an announcement to regulated entities and the general public following the United Kingdom’s withdrawal from the European Union.

The UK – EU Withdrawal Agreement, which has now officially entered into force, stipulates that, during the transition period which commences on 1 February 2020 and expires on 31 December 2020, the UK will continue to apply and benefit from EU law as if it were a member state but will no longer be permitted to participate and be represented in the EU institutions.

It should be noted that the transition period can be extended just once, for a period of up to two years, however, such extension will need to be agreed before 1 July 2020.

CySEC announcement can be found here.

ESMA issued a similar statement and can be found here.