Pelaghias, Christodoulou, Vrachas LLC’s Post

The CySEC - Cyprus Securities and Exchange Commission recently took steps to address concerns over Aliaksandr Klimenka's indirect control of FXOpen EU Ltd, which operates FXOpen for European clients. #CySEC #FXOpen #RegulatoryAction #ShareholderInfluence #ForexRegulation #Compliance #InvestorProtection #CIFManagement #RegulatoryScrutiny #FXTrading

📢 European Securities and Markets Authority (ESMA) | OPINION TO SUPPORT THE CONVERGENT APPLICATION OF MiCA The European Securities and Markets Authority (ESMA) released an opinion to ensure the consistent application of the Markets in Crypto-Assets (MiCA) Regulation across the EU. This opinion addresses the regulatory challenges posed by Multifunction Crypto-asset Intermediaries (MCIs) and aims to enhance #investor #protection, #market #integrity, and #financial #stability. #ESMA #EU #MiCA

#CSDR | 📣 ESMA consults on different aspects of the Central Securities Depositories Regulation Refit. The proposed rules relate to the information to be provided by European CSDs to their national competent authorities for the review and evaluation, the information to be notified to #ESMA by third-country CSDs, and the scope of settlement discipline. 🗓️ Send your input by 9 September → https://lnkd.in/d-DkeMxs. 🎯 ESMA aims to streamline information from third-country CSDs - notary, central maintenance, and settlement services in the EU to reduce reporting burden 🎯 The scope of settlement discipline, addressing the cause of settlement fails not attributable to transaction participants and specifies non-trading circumstances

CySEC - Cyprus Securities and Exchange Commission has taken a significant step in enhancing the regulatory environment for the financial industry in Cyprus by granting regulatory permission to eighty-two firms until the end of 2023. 👉 Download WikiFX App to know more market trends https://lnkd.in/gmAN4uZ4   #forex #fxtrading #traders #beginners #forexbrokers #investment #tradingplatforms #trends #market #onlinetrading #cysec #regulators #cyprus

Recently the Federal Council proposed to amend the Financial Market Infrastructures Act (FMIA) in several meaningful ways: First, it proposes major changes to securities trading such as an essentially new transaction reporting system where reports go directly to FINMA, issuers' obligations directly in the FMIA and simplifications for the recognition of foreign trading venues. Second, it proposes several changes that are very welcome from a #FinTech perspective, in particular legal certainty when a payment system requires a license, what is and what isn't a central security depository and #DLT trading systems being able to list securities. Third, there are many other changes of note, such as additional requirements on systemically important infrastructures, several changes to enable #digitisation, a new definition of market manipulation, etc. What do you think of the Federal Council's proposals? For more details please see also our Lenz & Staehelin Insights prepared by my colleagues Ariel Ben Hattar and Patrick Schärli attached.

Our Q2 Regulatory Round-Up outlines the information that fund managers need to know in order to navigate new rules and proposed changes across the US, EU and UK.   This edition, which includes commentary by Sonia Bhasin, our General Counsel, covers the global T+1 settlement cycle changes, the latest sustainable finance regulations, EMIR & CSDR updates, as well as other key regulatory developments.   Read the full Q2 Regulatory Round-Up Newsletter here: https://lnkd.in/eedFhRFV #APartnershipBuiltAroundYou #EMIR #CSDR

The Q1 NZX Issuer Update is out 📬 In January the Listing Rules were amended in relation to raising capital. In this issuer update we highlight disclosure that issuers must make when placing shares using placement capacity. The update also highlights that trading halt applications will now be published to market, and discusses a recent NZMDT decision about corporate governance and annual reporting. NZ RegCo NZX Limited https://lnkd.in/gPZq2qWU

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

ComplianceOne Newsletter - June 2024 issue is out! https://lnkd.in/gmeRBrqV The topics discussed in this monthly newsletter are as follows: 1. HKEX to implement severe weather trading in securities and derivatives markets 2. SFC marks its 35-year history as the guardian of Hong Kong financial markets 3. SFC’s deficit nearly tripled to 298 million ending in March 2024 4. SFC enforcement report shows 175 completed cases in 2023-2024 5. SFC suspends PICC’s former licensed representative for seven months for failures in managing a private fund 6. WONG Ming Chung was convicted for providing investment advice on Telegram without a licence 7. SFC disciplined WU Chao for circumventing personal dealings #Compliance #ComplianceOne #HK #SFC #RegulatoryUpdate

Derivatives, Legislative and Regulatory Weekly Update (December 6, 2024) - Gibson Dunn: CFTC Staff Issues Advisory Related to the Use of Artificial Intelligence by CFTC-Registered Entities and Registrants. On December 5, the CFTC's ... http://dlvr.it/TGfn4D