Regulatory

Blog

Regulatory

The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Cyprus and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.

Contributors

Aki Corsoni-Husain
Aki Corsoni-Husain
  • Aki Corsoni-Husain

  • Partner
  • Cyprus
George Apostolou
George Apostolou
  • George Apostolou

  • Partner
  • Cyprus
Chiara Deceglie
Chiara Deceglie
  • Chiara Deceglie

  • Partner
  • Luxembourg
Massimiliano della Zonca
Massimiliano della Zonca
  • Massimiliano della Zonca

  • Senior Associate
  • Luxembourg
Philip Graham
Philip Graham
  • Philip Graham

  • Partner
  • British Virgin Islands
Ayana Hull
Ayana Hull
  • Ayana Hull

  • Counsel
  • British Virgin Islands
Katerina Katsiami
Katerina Katsiami
  • Katerina Katsiami

  • Associate
  • Cyprus
Andrew Knight
Andrew Knight
  • Andrew Knight

  • Partner
  • Luxembourg
Joshua Mangeot
Joshua Mangeot
  • Joshua Mangeot

  • Counsel
  • British Virgin Islands
Mirza Manraj
Mirza Manraj
  • Mirza Manraj

  • Counsel
  • Hong Kong
Elina Mantrali
Mirza Manraj
  • Elina Mantrali

  • Associate
  • Cyprus
Vanessa Molloy
Vanessa Molloy
  • Vanessa Molloy

  • Partner
  • Luxembourg
Andrea Moundi Savvides
Andrea Moundi Savvides
  • Andrea Moundi Savvides

  • Consultant
  • Cyprus
Marina Stavrou
Marina Stavrou
  • Marina Stavrou

  • Associate
  • Cyprus
Matt Taber
Matt Taber
  • Matt Taber

  • Partner
  • Cayman Islands
Carolynn Vivian
Carolynn Vivian
  • Carolynn Vivian

  • Counsel
  • Cayman Islands

Luxembourg’s CSSF publishes FAQs on the application of MiFID to Investment Fund Managers

On 10 June 2021, the Commission de Surveillance du Secteur Financier (CSSF) published Frequently Asked Questions (FAQs) on the application of MiFID to Luxembourg Investment Fund Managers (IFMs). The CSSF FAQs aim to clarify under what circumstances and to what extent MiFID applies to IFMs, their third-party delegates and their investment advisers.

Vanessa Molloy, Victor Le Pape

CySEC’s new register for crypto-asset service providers

Further to the implementation of pan-EU requirements including crypto-asset service providers (CASPs) under the Fifth Anti-Money Laundering Directive (5AMLD), Cyprus recently updated its definition of obliged entities under the Prevention and Suppression of Money Laundering Law 2007 (AML Law) to bring CASPs into scope.

Aki Corsoni-Husain, George Apostolou

Brexit – CySEC announces Temporary Permissions Regime for UK investment firms

On 22 December 2020, the Cyprus Securities and Exchange Commission (CySEC) issued a press release announcing the introduction of a Temporary Permissions Regime (TPR) in respect of the provision of investment services and conduct of investment activities by UK investment firms to eligible counterparties and professional clients in Cyprus after the expiry of the Brexit transition period on 31 December 2020.

Aki Corsoni-Husain, Elina Mantrali

Europe renews short selling restrictions

On 16 September, the European Securities and Markets Authority and the EFTA Surveillance Authority renewed the requirement on hedge funds and other short sellers of stocks to report to member state regulators (National Competent Authorities or NCAs) where their positions exceed 0.1 per cent of the share capital of an issuer listed on an EU regulated market.

Aki Corsoni-Husain

CSSF clarification on what constitutes providing services “in Luxembourg”

On 1 July 2020, the Commission de Surveillance du Secteur Financier (CSSF) published Circular 20/743 which amends the CSSF Circular 19/716 on the provision of investment services or performance of investment activities and ancillary services, in Luxembourg, in accordance with Article 32-1 of the law of 5 April 1993 of the financial sector, as amended (the LFS). The Circular was addressed to all third-country firms that provide or wish to provide investment services, perform or wish to perform investment activities and that propose or wish to propose ancillary services in Luxembourg.

Vanessa Molloy