Cyprus Securities and Exchange Commission adoption of ESMA Guidelines on the management body of market operators and data reporting services providers

The Cyprus Securities and Exchange Commission has issued a circular notifying market operators and data reporting service providers that it has adopted the Guidelines on the management body of market operators and data reporting services providers issued by the European Securities and Markets Authority in December 2017, and that they should therefore make every effort to comply with the Guidelines, which apply from 3 January 2018.

The objective of the guidelines is to develop common standards to be taken into consideration by market operators and data reporting services providers when appointing new and assessing current members of the management body and to provide guidance on how such information should be recorded in order to make it available to the competent authorities for the exercise of their supervisory duties.

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