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Screenshot of a breaking news alert e-mail from Q2 2017
The Cyprus Securities and Exchange Commission (CySEC) has just made a move towards accelerating the procedure for examining the authorization applications of investment firms.
The Cypriot regulator mentions Cyprus investment firms (CIFs) in the set of companies covered by a new offer – a ‘fast track’ examination scheme.
The scheme covers applicants who have already submitted applications for authorisation and are still pending for examination. Any applicant that has not received a notification by the CySEC about the assignment of its application may participate. The new scheme does NOT cover companies whose applications have already been assigned and are under examination.
The Commission does not plan to issue a list of pending applications.
All interested entities are requested to submit their interest via email to Mrs Christoulla Ignatiou at [email protected] stating their application name and type of authorisation, and that they are willing to participate in the Scheme. There is no deadline for applying for participation in the Scheme, but CySEC said it will follow a first come first served list.
The authorisation procedure for the firms that will not participate in the scheme will continue as normal by the Authorisations Department of the Commission and the applications will remain in the respective queue.
Below is a Table including the indicative time frames under the “fast track” scheme.
To view the official announcement from CySEC, click here.