The Cyprus Securities and Exchange Commission (CySEC) has announced its supervisory priorities for the year 2024 within the fields of investment services and asset management.
The key areas of focus are:
Investment Services
- Effective organisational arrangements (governance, compliance, internal audit, safeguarding of clients’ assets);
- Information to clients, marketing communications, onboarding processes, client categorisation, appropriateness and product governance assessment, product monitoring, conflicts of interest, national measures in relation to CFDs, cross border provision of services;
- Services in fractional shares, costs and charges, communications through affiliates and influencers, sustainability, pre-trade controls, copy trading;
- Capital adequacy arrangements;
- Establishing and implementing measures by CIFs where there are early signs of financial distress;
- Risk management and remuneration policies;
- ICT and DORA;
- MiCA;
- MiFIR, EMIR, CSDR, SFTR and Securitisation Regulation.
Enhanced scrutiny will be applied to the cross-border activities of CIFs offering complex products.
Asset Management
- Sustainability risks and disclosures, valuations, liquidity management, leverage monitoring;
- Exposure in Commercial Real Estate;
- Data pertaining to transactions and derivative contracts.
How can MAP S. Platis assist you?
MAP S. Platis can assist in one or more of the following ways:
- Conduct compliance health-checks on areas such as product governance, conduct of business, organisational requirements, transaction reporting, information to clients (including costs and charges), marketing (including websites), safeguarding of clients’ funds, suitability/appropriateness assessment, onboarding processes, product intervention measures and governance.
- Provide tailored rectification measures best suited for each firm’s modus operandi.
- Develop a tailored and practical action plan for compliance with any of the regulatory requirements.
- Review and update existing policies and procedures to align them with the relevant legislation.
- Draft new policies and procedures.
- Provide answers to queries (Q&A service).
- Train and educate on new and existing regulatory requirements.
Contact us for more information on how we may assist you.
