Summary of CySEC's Circular C539
Memo #49-2022
CySEC Circular No: C539
Date: 08/12/2022
Subject: New Form CBRT-CIF, Freedom to Provide Investment Services and Activities (Cross Border Activity) – Further clarifications and information requested
Purpose: To provide further clarifications to CIFs in relation with the Form CBRT-CIF.
In Summary:
CySEC has issued the Circular C539 on 08/12/2022 to provide to the Cyprus Investment Firms (‘CIFs’) further clarifications in relation with the Form CBRT-CIF, Freedom to Provide Investment Services and Activities (Cross Border Activity), (the ‘Form’).
This Circular C539 is in continuation to Circular C537 and must be read together.
With this Circular C539, CySEC informs the CIFs that for the reference year 2022, the CIFs that do not reach the materiality threshold of 50 retail clients (including clients treated as professionals on request, according to Section II of Annex II of MiFID II) in each EEA country listed in the Form, should inform CySEC of the fact that they are not required to complete and submit the Form.
In this respect, CySEC informs the CIFs that they are requested to complete the document "Declaration of non-applicability of Form CBRT-CIF from CIFs", that can be found as Appendix on this Circular C539.
CIFs shall send this Appendix to CySEC by email to riskstatistics.cifs@cysec.gov.cy by 15:00 hrs, Friday, 27th of January 2023, the latest.
Also, with this Circular C539, CySEC informs the CIFs for an amendment of instruction on point 3.4.2.8 of Circular C537.
The document "Declaration of non-applicability of Form CBRT-CIF from CIFs" can be found as Appendix on the Circular C539.
The Circular C537 can be found on the following link:
Read the CySEC Circular C539
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