CySec is asking CIFs to close monitor the risks they are exposed in a possible Brexit
The Cyprus Securities and Exchange Commission (CySec) has issued a Circular to inform Cyprus Investment Firms in relation with monitoring of risks due to a possible Brexit.
CySec informs that in case of a possible exit of the UK, there might be an impact on the financial markets.
Therefore, according to CySec’s Circular, the CIFs which are activated in the UK and/or maintain accounts in sterling pound, or offer products with the sterling pound are asked to closely monitor the risks to which they, or/and their customers are exposed or could be exposed and where necessary, take measures to minimize such risks.
A referendum will be held in the United Kingdom (‘UK’) on June 23, 2016, to decide whether the UK will leave or remain in the European Union.
Source: CySec – CIFs monitoring risks due to possible brexit
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