Data Management Insight, from A-Team Group’s Post

Nord vLEI Becomes First European GLEIF Qualified vLEI Issuer https://lnkd.in/gWU2hUXs #vLEI #gleif #LEI #digitisation #digitalcredentials #transparency Global Legal Entity Identifier Foundation (GLEIF) NordLEI

Stricter Oversight Leads to €2.2 million Fines for CIFs in 2023 In 2023, the Cyprus Securities and Exchange Commission (CySEC) stepped up its regulatory efforts, levying fines totaling €2.2 million on Cyprus Investment Firms (CIFs). Notably, the Commission carried out audits on promotional materials from over 35 CIFs, mandating amendments where inaccuracies were found. The supervisory body completed 42 investigations while continuing with 48 others, with one case referred to the Attorney General for the evaluation of potential criminal violations. Despite economical difficulties, the Cypriot capital market expanded its reach, with 82 entities approved by CySEC, taking the total to 830 by February 2024, marking a 12% increase over four years. The Chairman of CySEC, Dr. George Theocharides, underlined the imminent incorporation of the Markets in Crypto-Assets Regulation (MiCA) by 2024 end, targeting crypto-asset service providers. #Cysec #Regulations2023

Sebi's proposed overhaul in handling minor violations by market intermediaries marks a commendable shift towards efficiency. The introduction of summary proceedings aligns with global standards and promises to expedite resolutions significantly. By potentially concluding cases within 50 days, this approach not only reduces the regulatory burden but also enhances investor protection. Streamlining the process for obvious violations allows Sebi to focus on more critical issues, ensuring a more robust market oversight. However, incorporating a brief personal hearing could balance speed with fairness, providing intermediaries a chance to explain their circumstances. Overall, this reform is a strategic move towards a more efficient and effective regulatory environment. https://lnkd.in/gp7GVsdz #SEBI #MarketRegulations #RegulatoryOverhaul #FinancialMarkets #MarketIntermediaries #SummaryProceedings #InvestorProtection #RegulatoryEfficiency

In 1994, Nevis established itself as a premier international financial jurisdiction for asset protection with the enactment of the Nevis International Exempt Trust Ordinance (NIETO). Learn More: https://buff.ly/3UOCGrb #nevis #assetprotection #financialhub #internationaltrusts #estateplanning #wealthmanagement #NIETO #offshoretrust #financialsecurity #nevistrust #nevisllc #offshorecompany

In line with broader efforts to remove procedural deterrents from issuers engaging in equity offerings, for about the past year, the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – "BaFin") has been implementing an abridged timeframe for its review of prospectuses for offers and listings of shares. Authored by: Dr. Patrick Scholl & Dusan Stojkovic Please read more of the legal update here: https://lnkd.in/eD3r6DDz #LegalUpdate #BaFin #EU

🇦🇺 Australia is significantly enhancing global financial transparency by making the Legal Entity Identifier (LEI) mandatory for certain entities! This decision marks a major milestone in aligning with international standards, reinforcing the importance of unique, verifiable identities in the financial sector. At GLEIF, we are proud to support global initiatives like this that promote transparency, reduce risk, and improve regulatory compliance. Adopting the LEI across jurisdictions is essential for fostering a secure and interoperable global financial system. 📖 Read more about how Australia's legislative changes are setting new benchmarks in global finance in an article by APIR Systems Limited (APIR) in AdviserVoice Pty Limited: https://lnkd.in/d6dp--X5 #LEI #GlobalFinance #Transparency #RegulatoryCompliance #FinancialStability #Australia

📢 GLEIF and Nord vLEI today announce that Nord vLEI, a subsidiary of NordLEI, has become the first European-based Qualified vLEI Issuer (QVI) within the Global LEI System. 🚀 This milestone represents the continuous growth of the vLEI ecosystem, which is set to revolutionize the world of digital trust by enabling the automated verification and authentication of legal entities and their authorized representatives across a rapidly growing number of digital interactions. 📄 Check the full joint press release now! 👇 #GLEIF #NordLEI #NordvLEI #vLEI #LEI #QVI #LegalEntity #Identity #Autentication

📌New Circular has been issued by the CySEC - Cyprus Securities and Exchange Commission, drawing the attention of Cyprus Investment Firms, to the Circular Note No. 010/2023 issued by the Portuguese Securities Market Commission (CMVM), regarding advertising by Financial Intermediaries in Portugal. Specifically, the CMVM requires that financial intermediaries registered with it, as well as those conducting financial intermediation activities in Portugal through the freedom to provide services, adhere to applicable laws to ensure the following: ◻ Their advertising must contain their "entity identification," irrespective of the channel used. ◻ All information they provide must be complete, truthful, current, clear, objective, and lawful. ◻ If their advertisements mention potential benefits of an investment service or financial instrument, they must also accurately and clearly disclose the associated risks of that investment service or financial instrument. #C629 #CMVM #CySEC #Cyprus #Portugal #DeneoPartners #Consultingfirm #Incorporation #Globallicensing #Regulatory #Banking #PSPs #Accounting

🔔 Attention for all CIF's advertising the provision of #financial services and/or financial #instruments to investors in #Portugal. (🇵🇹) #CySEC

Our Sales Director, James Redfern, was delighted to speak at the Global LEI Conference at the London Stock Exchange this week organised by GLEIF, the Financial Stability Board (FSB) and Regulatory Oversight Committee (ROC). The conference explored and discussed the promotion and broader adoption of the LEI amongst corporate and non-financial, as well as financial institutions. Thanks to everyone who made the event such a success. #GlobalLEIConference #LEI #KYC #MerchantKYC #LondonStockExchange #RegTech #DigitalTransformation #CorporateData #Networking #FutureOfFinance #LegalEntityIdentifier #LegalEntity #Regulation #CrossBorder #FinancialServices #Identification #Governance Global Legal Entity Identifier Foundation (GLEIF)