The Cyprus Securities and Exchange Commission (CySEC) is launching a thematic review regarding the handling of uninvested funds held by Cyprus investment firms (CIFs) on behalf of their (potential) clients, including the payment of interest or returns on these uninvested funds.
The aim of the initiative is to assess the processes followed by CIFs in the above-mentioned activity to ensure compliance with relevant regulatory requirements.
The Exercise will cover, among other aspects:
- The methods and arrangements CIFs employ in this activity.
- The information provided to clients, including the terms of the agreement signed between the parties.
- The controls CIFs implement to ensure adherence to all relevant regulatory requirements, including those pertaining…
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