The Cyprus National Product Intervention Measures (cyNPIM)
CySEC, the Cypriot National Competent Authority (NCA), issued a consultation paper in relation to national product intervention measures at the end of May. In the consultation paper, the regulator provides its own point of view and proposes a set of permanent product intervention measures — at a national level. Subsequently, the commission encourages firms and investors to submit their comments until the 14th of June 2019. The measures will come into force by the 30th of July 2019 — a key date, right before the renewal of the ESMA temporary measures.
In a previous article, in February, we discussed the impact of the temporary product intervention measures imposed by ESMA, whereas in this article we discuss what CySEC proposes; more specifically what stays the same and what is changing from the ESMA measures.
Read More…
