Thursday July 27 2017
News Source: Global Exchanges
Focus: General - Global Exchanges
Type: General
Country: Cyprus
Link: http://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=3578c546-f4e8-4854-a400-e5e73ccfe26c
The Cyprus Securities and Exchange Commission (‘CySEC’) has issued a circular which repeals and replaces Circular C081, issued on 28 July 2015, regarding the threshold criteria for determining which CIFs are ‘significant CIF’ and the frequency of such assessments.
CySEC’s policy is to apply an objective definition with pre-defined thresholds to determine which CIFs are considered significant. The CIF is considered significant if according to the results of its audited financial statements, meets one or more, of the following criteria:
| Criteria | Thresholds (€) |
| Total assets | >43m |
| Annual fees/ commission income/ net trading income | >50m |
| Clients’ money | >35m |
| Clients’ assets | >750 |
Please click on the above link for more information.