Posts by CX Financia
Analysis of Class 2 Firms – IFD/IFR
IFD/IFR – Analysis of Class 2 Firms and their Capital Requirement Calculations Introduction In our previous article (can be found here) we analyzed the categorization of investment firms in accordance with the new Prudential Regulation and Directive (IFR/IFD). Class 2 investment firms will be subject to new risk-based regulatory capital requirements, assessed as the higher…
Read MoreA guide of the new prudential framework IFD/IFR
Guide on the implementation of the new prudential framework of Investment Firms (IFD/IFR), publication and testing submission of the new reporting forms under IFD/IFR Background The EU has adopted a new harmonised prudential regime that has been applied to all investment firms authorised in the EU since June 2021. The new Investment Firm Regulation and…
Read MoreCySEC’s new policy for Crypto-Asset providers (CASP)
On 25 June 2021, the Cyprus Securities and Exchange Commission (CySEC) released its directive on the CASP register (CASP Directive), which forms subsidiary legislation issued under section 61E of the Cypriot Prevention and Suppression of Money Laundering Law 2007. Furthermore, on 13 September 2021, CySEC issued a Policy Statement on the Registration and Operations of…
Read MoreCX at iFX EXPO International 2021
Join us at iFX EXPO International on 4-6 October 2021 in Limassol, Cyprus! Register to attend and come see our panel We are thrilled to announce that CX Financia will be in attendance at the iFX Expo in Cyprus on October 5 and our very own Xenia Neophytou will participate in the panel discussion entitled: …
Read MoreInvestment Funds in Cyprus – Learn everything you need to know
In our previous article titled “Cyprus: The Financial Services Sector and Investment Funds” we talked about the benefits for the Financial Services Sector in Cyprus as well as for the exponential growth in Investment Funds. In this article, we are giving you some information regarding what are funds, the difference between UCITs and AIFs, AIFs…
Read MoreIntellectual property (IP) and its tax benefits in Cyprus
What is intellectual property? Intellectual property refers to creations of the mind such as inventions, literary and artistic works, designs and symbols, names and images used in commerce. It is a property whose owners have rights of ownership like any other kind of property such as ownership of land and buildings. Why is it important?…
Read MoreTax deductions under the IP Box Cyprus
Why is Cyprus attractive for Intellectual Property (IP) companies? Cyprus is an attractive destination for companies due to its business-friendly legal framework including its tax framework and the protection of intellectual property rights. Holding companies that manage intellectual property choose Cyprus as their place of registration/incorporation as Cyprus combines the protection provided under the European…
Read MoreThe Challenges in Today’s AML Compliance Practice and How Regulation Technology Can Help
Obliged entities constantly strengthen their compliance mechanisms and spend more on AML compliance compared to the past decade. Compliance is now seen as a vital mechanism in obliged entities not only due to fear of the cost of non-compliance but also due to increased regulation. More and more companies are looking to bring AML Compliance…
Read MoreMoney Laundering and The Cost Of Non-Compliance
The risk of money laundering is an issue that exists worldwide and institutions across the globe are scaling up their prevention mechanisms to detect and prevent the laundering of illegally obtained funds or property. AML professionals and money launderers are engaged in a constant “fight” – with AML professionals on the one hand building protection…
Read MoreCySEC establishes a Temporary Permission Regime for UK investment firms to avoid Brexit disruption
Following the expiration of the transition period agreed between the EU and the UK, Investment Firms from the UK are considered as third-country firms. In light of the absence of an equivalence decision from the European Commission, UK Investment Firms can provide services to professional clients and eligible counterparties on a solicited basis through a…
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