CySEC has issued a Policy Statement (available here) relating to its decision to further amend Directive 87-04, in an effort to ensure the smooth transition of UK groups operating under the Temporary Permissions Regime (TPR), until they establish a physical presence in Cyprus.
It should be noted that in December 2020, CySEC introduced a Temporary Permission Regime so that UK firms can continue to provide investment services without a physical presence in Cyprus, under the condition that they only offer their services to eligible counterparties and/or professional clients based in Cyprus.
Continue reading at source: Gold News
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