CySEC Identified Improvements and Weaknesses Following On-Site Visits in CIFs

As part of its effort to effectively practice its regulatory role, the Cyprus Securities and Exchange Commission (‘CySEC’), carried out on-site checks in Cyprus Investment Firms (‘CIFs’), in order to assess their compliance to Article 28 of the 2018 Law Regarding the Provision of Investment Services, the Exercise of Investment Activities and the Operation of Regulated Markets (‘the Law’). These provisions refer to the obligation of CIFs to execute orders based on the most beneficial terms for the client (‘Best Execution Obligation’).

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