Read the CySEC Circular C629
Memo #17-2024
CySEC Circular No: C629
Date: 05/04/2024
Subject: Requirements of the Portuguese Securities and Exchange Commission (the ‘CMVΜ’) regarding the Financial Intermediaries on Advertising
Purpose: To draw the attention of CIFs to the Circular Note No. 010/2023 issued by the Portuguese Securities Market Commission.
In Summary:
CySEC has issued the Circular C629 on 04/04/2024 to draw the attention of the Cyprus Investment Firms (CIFs), to the Circular Note No. 010/2023 - Financial Intermediaries on Advertising, regarding advertising by Financial Intermediaries in Portugal, issued by CMVM, the Portuguese Securities Market Commission.
The CMVM requests the financial intermediaries registered with the CMVM and financial intermediaries carrying out financial intermediation activities in Portugal through the freedom to provide services, in accordance with the applicable legislation to ensure the following:
1. the advertising they carry out includes their “entity identification”, regardless of the channel used,
2. all the information provided is complete, truthful, current, clear, objective, and lawful and
3. where they refer, in their advertisements, to potential benefits of an investment service or financial instrument, they must also correctly and clearly state the relevant risks of that investment service or financial instrument.
CySEC urges all CIFs that are advertising the provision of financial services and/or financial instruments to investors in Portugal, to comply, where necessary, with the CMVM’s Circular.
The Circular Note No. 010/2023 issued by CMVM can be found on the following link:
Read the CySEC Circular C629
Read more news at Regulatory News
