Regulatory Alerts2023-06-06 | C579CySEC Circular C579 on ESMA Guidelines for MiFID II Suitability Requirements
The Cyprus Securities and Exchange Commission issued Circular C579 to notify regulated entities of the European Securities and Markets Authority's Guidelines on MiFID II suitability requirements. These guidelines clarify the application of Article 25(2) of MiFID II and related delegated regulations for investment advice and portfolio management services, primarily targeting retail clients. CySEC has incorporated these guidelines into its supervisory practices, requiring full compliance from October 5, 2023, while simultaneously repealing previous circulars C290 and earlier ESMA guidelines.
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