CIF Organisational & Operational Requirements and the Safeguarding of Client Funds
According to the European Securities and Markets Authority’s (ESMA) analysis of cross-border investment activity in 2022, Cyprus Investment Firms (CIF) served approximately 2.5 million cross-border clients. Consequently, under the regulatory framework governing markets in financial instruments, CIF regulated entities are expected to implement and uphold strong policies and procedures to ensure adherence to organisational and operational requirements.
The mandate of the European National Competent Authorities (NCA) is to strengthen investor protection, particularly for retail investors, while ensuring the integrity of capital markets. As part of this mandate, CIF entities, are authorised to hold and protect client funds and financial instruments, which carry an added level of responsibility. To manage these assets diligently, always prioritising the best interests of their clients.
Within this article, the SALVUS Regulatory Compliance team explores essential organisational and operational requisites applicable to CIF. Additionally, the team addresses practices associated with the protection of client funds and financial instruments. We guide CIF and other CySEC regulated entities in developing effective controls and procedures tailored to their business characteristics and achieving regulatory compliance. The article focuses on the following key areas:
- Organisational Requirements
- Operational Conditions
- Safeguarding Client Funds and Financial Instruments
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Find the full article here: https://salvusfunds.com/2023/08/07/cif-organisational-operational-requirements-and-the-safeguarding-of-client-funds/
