CySec: regarding new provisions for exposures to directors and shareholders of Cyprus Investment Firms (‘CIFs’)
The Cyprus Securities and Exchange Commission (CySec) the Cypriot financial regulatory authority has announced the following:
In the context of establishing effective arrangements and procedures for consultation with the market participants regarding the proposed changes in the national legislation the Cyprus Securities and Exchange Commission (‘the Commission’) makes public this Document for consultation.
The Commission before taking its final decisions regarding new provisions for exposures to CIFs directors and shareholders is addressing to you the present Consultation Paper. These provisions will replace the existing provisions in paragraph 8 of the Commission’s Directive 144-2007-06 regarding large exposures.
Therefore, the Commission invites you to submit your comments/suggestions by completing the Annex attached, in word format, until Friday, April 25, 2014, to the electronic address crdsubmission@cysec.gov.cy.
Source: CySec
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