On 19 February 2020, the Cyprus Securities and Exchange Commission (CySEC) announced the launch of a Brexit Information Hub (accessible here) on its website, aiming to facilitate navigation of Brexit-related information and the compliance of interested parties with new legal obligations arising following the expiry of the transitional period of the UK’s withdrawal from the European Union.
The Brexit Information Hub has been initiated in conjunction with the Temporary Permissions Regime (TPR) which enables UK financial services firms that do not have a physical presence in Cyprus to continue to provide investment services to per se professional clients and eligible counterparties in Cyprus without triggering licensing requirements for a limited period of time. See our previous blog posts on the TPR here and here.
Within the Brexit Information Hub, CySEC has released a set of Brexit-related Q&As to assist with compliance with the applicable rules. The Q&As are expected to be updated as necessary with additional content.
CySEC’s press release can be found here.
The Q&As can be found here.