The Cyprus Securities and Exchange Commission in its Circular No. C228 informs the Cyprus Investment Firms that the threshold criteria for the definition of "significant CIF" have been amended. As per the Circular, it is the CIF's responsibility to assess whether it is considered a "significant CIF" subject to the results of its audited financial statements for the preceding year. CySEC retains its discretionary power to consider a CIF as "significant" even though it might not fall within the relevant criteria.
The Commission's Circular can be viewed here:
http://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=3578c546-f4e8-4854-a400-e5e73ccfe26c
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