FEBRUARY ICAS Newsletter - Issue 05/2021

With the entry into force of the Investment Firms Regulation (EU) 2019/2033 ("IFR") and Investment Firms Directive (EU) 2019/2034 ("IFD") on 26 June 2021, all Cyprus Investment Firms ("CIFs") authorised under the Investment Services and Activities and Regulated Markets Law of 2017 will be subject to a new prudential regime, different and independent from the Regulation EU No. 575/2013 ("CRR") and Directive DI144-2014-14 which are applicable.