Cyprus Investment Firms (CIF) are reminded that one of their first reporting obligations for 2017 is due by January 31st, 2017. Subject to the provisions of section 33(7) of the Investment Services Law 144(I)/2007 ('the Law') as amended, it is necessary for every CIF to :
"... notify to the Commission at least by January 31st of each year, the names of its shareholders possessing qualifying holdings during the previous calendar year as well as its associates, as well as the sizes of such direct or indirect held holdings."
CIFs are reminded that according to the CySEC's Circular C042, CIFs must also submit their group structure along with the shareholding notification. The relevant circular can be accessed through the following link: http://cysec.gov.cy/CMSPages/GetFile.aspx?guid=5e4c95b6-6241-419a-9f13-2e0d0a18bd13
The notification should also include information in relation to the CIF's tied agents for the preceding year, subject to section 40(15) of the Law.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
