The Cyprus Securities and Exchange Commission ("CySEC") announced today the launching of a dedicated section on its website to serve as a Brexit Information Hub. Practically evidencing its commitment to always finding new ways to improve the financial markets, CySEC has prepared a comprehensive set of guidance on Brexit in the form of Questions & Answers ("Q&As") per regulated sector (which is available here).
This Q&A aims to provide clarity to market participants and UK firms on the applicable Cyprus rules post-Brexit and covers matters in relation to the following sectors:
- The deal reached between the EU and the UK;
- Regulated markets and investment services;
- CySEC'S temporary permission regime applicable to the UK investment firms providing investment services and/or carrying out investment activities on a cross-border basis with per se professional clients and eligible counterparties in Cyprus;
- Collective investments and fund management;
- Issuers of financial instruments; and
- Prudential supervision and CRR.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.