The Cyprus Securities and Exchange Commission ( ‘’ CySEC’’) , whose Mission is to exercise effective supervision to ensure investor protection and the healthy development of the Cyprus securities market, has announced an updated version of its ‘ MiFID 11 Supervisory briefing on appropriateness and execution only ‘ and its ‘ MiFID supervisory briefing on suitability ’.
The purpose of these supervisory briefings is to promote a common supervisory approach in the application of the MiFID appropriateness / suitability rules to the competent authorities.
They cover areas such as Assessment of Appropriateness ; Obtaining Information from Clients; Warnings to Clients; Qualifications of the firm’s staff and record keeping among others.
Our experienced Financial Services team can help you navigate the applicable regulatory framework in Cyprus and for any enquiry or assistance please contact Dimitris Papoutsis or your usual contact at Elias Neocleous & Co LLC.
