MiFID was officially adopted on 30 March 2004 and has brought with it a cyclone of changes for investment service providers, transposing into Cypriot legislation with the Law 144(I) of 2007, which provides for the Provision of Investment Services, the Exercise of Investment Activities and the Operation of Regulated Markets.
In the field of MiFID, our Company prides itself in leading the pack and being its top expert. Our Legal Department works closely with the Financial Services Advisory Team to offer our clients the following services:
- Consulting on the form of a financial group’s presence in Cyprus and the rest of the EU (IF, CIF, Investment Branch or other, depending on the Client’s needs);
- Advisory support towards the authorisation and registration of an EU Investment Firm;
- Preparation of the application file in accordance with current regulatory requirements;
- Incorporation of documents:
- Company’s Memorandum and Articles of Association;
- Business plan;
- Internal operations manual and/or internal regulations and relevant procedures;
- Anti-money laundering provisions;
- Due diligence provisions;
- Risk management provisions, and;
- Representation of the Client before the Cyprus Securities and Exchange Commission (CySEC) and the Central Bank of Cyprus and other EU supervisory authorities.
- Legal opinions;
- Drafting of client agreements;
- Drafting of directors’ and executives’ agreements;
- Locating qualified directors and personnel (if needed);
- Money laundering compliance;
- Supervision issues;
- Advice on capital adequacy directive;
- Advice on merger control and antitrust issues;
- Compliance with national and EU Laws, and;
- Accounting and auditing support of an IF and/or a Bank.
For more information, please feel free to contact us