Regulatory Alerts2024-04-04 | C628C628 - Date of authorisation – Clarification regarding Circular 191 and repeal of Circular 274
The Cyprus Securities and Exchange Commission repeals Circular 274 and clarifies the definition of the authorization date under Circular 191. CySEC specifies that the date of authorization is the date indicated in the notification letter granting authorization to regulated entities. Consequently, all reporting obligations and compliance requirements commence from this specific notification date.
To : Regulated Entities i. CIFs ii. ASPs iii. UCITS Management Companies iv. UCITS v. AIFMs vi. AIFs vii. AIFLNPs viii. Companies with sole purpose the management of AIFLNPs ix. Small AIFMs x. Crowdfunding Service Providers (CSPs) From : Cyprus Securities and Exchange Commission Date : 4 April 2024 Circular No : C628 Subject : Date of authorisation – Clarification regarding Circular 191 and repeal of Circular 274 The Cyprus Securities and Exchange Commission (the ‘CySEC') wishes to inform the Regulated Entities that the Circular 274 is repealed. Therefore and further to Circular 191, CySEC clarifies that, the ‘date of authorisation’, referred to in paragraph 2 of Circular 191, is the date where an authorization was granted by CySEC, according to the letter which notifies the entity that the authorization is granted. Therefore, the obligations for submission of reports or/and other information as well as compliance with the relevant legislation start from that date. Sincerely, Dr. George Theocharides Chairman Cyprus Securities and Exchange Commission