How to Register with CySEC as a Crypto Asset Service Provider (“CASP”)

On 25 June 2021, the Cyprus Securities and Exchange Commission (the “CySEC”) released its directive on the CASP register (the “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…

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Meet us in London

November 2021 – C.X. Financia is excited to announce its participation in this year’s International Business Conference: Business Orientation Cyprus 2021. This prestigious event, of which C.X. Financia is an exhibitor as well as a proud sponsor, will be held at Marriott Hotel, Regents Park, London NW3 3ST, on 23 November 2021. The conference which…

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C.X. Financia: At the greatest B2B Forex Event in Cyprus

Join us in the most important B2B event in the forex industry in Cyprus! Don’t miss out the Forex Expo event taking place this Thursday and Friday 18th and 19th of November at 9.00 a.m. – 18:00 p.m at Parklane, a Luxury Collection Resort & Spa, in Limassol. CX Financia will be participating in the discussion panel for…

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CX Financia at Forex Expo 2021

Join us in the most important B2B event in the forex industry. Don’t miss out this 2-day event taking place this Thursday and Friday 18th and 19th of November at 9.00 a.m. – 18:00 p.m at Parklane, a Luxury Collection Resort & Spa, in Limassol. CX Financia will be participating in the discussion panel for…

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Ready made financial licenses for sale in Cyprus – CIFs

At CX Financia, #YourTrustedFinancialAdvisor, one of the most common requests and inquiries we receive relates to financial licenses for sale in Cyprus. Such inquiries often entail the purchase of an empty shell (CIF) – an investment company for which a license in Cyprus has already been issued but with minimal activities. All these questions from customers…

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Transposition of prudential framework into Cypriot legislation

The CX Financia team would like to inform you that the new Investment Firm Prudential Supervision Law (Law 165(I)/2021) (hereinafter the “Law”) has been recently voted and published at the Official Gazette of the Republic of Cyprus. The Law sets the new initial capital requirements, internal governance arrangements, prudential consolidation supervision, Internal Capital Adequacy and…

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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…

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A 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…

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CySEC’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…

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