88 UK INVESTMENT FIRMS REGISTERED WITH THE TEMPORARY PERMISSION REGIME OF THE CYPRUS SECURITIES and EXCHANGE COMMISSION (‘CySEC’)
According to the the Cyprus Securities and Exchange Commission (‘CySEC’) press release published on 27th April 2021, 96 UK Investment Firms applied for the Temporary Permissions Regime (‘TPR’) whereby no physical presence in Cyprus required for UK firms when providing investment services (including when performing investment activities) solely to professional clients per se and eligible counterparties, based in Cyprus, by virtue of the CySEC Directive DI87-04(2) and of Policy Statement PS-02-2020.
Several of these applications were submitted after 31st December 2020. Taking into consideration the practical difficulties raised by interested parties, CySEC decided to extend the deadline for the submission of notifications by UK firms who wish to make use of the TPR up until 28 February 2021.
Out of 96 applications CySEC has received from UK Firms, seven of them were considered inadmissible based on the TPR eligibility criteria and one was withdrawn.
The UK Investment Firms granted a Temporary Permission to provide investment services are listed in a dedicated Temporary Permission Register – CySEC TPR Register.
CySEC has launced a Brexit Information Hub to facilitate a seamless post-Brexit transition information and support the compliance of interested parties with their legal obligations (CySEC Brexit Information Hub).
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