Itinuro ng CySEC ang Maraming Mga Pagkukulang sa Pagsunod sa Mga Pagpapatakbo ng CIF

Mga Balita sa Regulasyon sa WikiFX (09 Abril 2021) - Maraming mga kumpanya ang hindi malinaw na binabanggit ang mga panganib sa pamumuhunan.

Ang Cyprus Securities and Exchange Commission (CySEC) ay naglathala ng mga resulta ng isang pagsusuri ng mga hakbang sa pagsunod na isinagawa ng mga kinokontrol na entity noong Miyerkules, kasama ang mga broker ng FX at CFDs, na nagpapakita ng iba't ibang mga pagkakaiba.

Naihatid ng regulator na maraming mga kumpanya na nagpapatakbo ng isang lisensya ng Cyprus Investment Firm (CIF) ay hindi tumutukoy sa kalubhaan ng mga panganib ng inaalok na mga instrumento sa pananalapi, na sapilitan para sa lahat ng mga kinokontrol na kumpanya.

Furthermore, many companies are not providing a proper annual compliance monitoring program based on the risk analysis, and also there were instances when the identification of risks and the monitoring priorities of the compliance function were vaguely determined.

The regulator additionally found discrepancies in reporting obligations on the part of these companies.

Pasokan sa Merkado ng Europa

Cyprus is home to many financial services companies. The low entry barrier of the jurisdiction has made it the preferred destination for the companies to run their European operations. Many London-based companies even moved to the island after Britains formal exit from the 27 country bloc to continue serving European clients.

Despite the popularity of the jurisdiction among the companies, multiple European companies have complained about these companies for breaches of local compliance rules.

“The circular sets out CySEC's key findings and invites all Regulated Entities to consider whether they comply with their obligations as per Article 17(2) of the Law, and, where appropriate, to take corrective measures,” the Cypriot regulator noted.

CySEC is now becoming strict in overseeing the regulated companies and has flagged and fined many corporations in recent years for serious compliance breaches.

Apart from the shortcomings, the regulator pointed out many positive practices followed by a bunch of companies that include regular management meetings and preparation of quarterly compliance reports.

“All Regulated Entities should consider the issues raised in this circular against their policies and arrangements in place in relation to the compliance with the compliance function requirements,” CySEC Chairwoman, Demetra Kalogerou stated.

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