June FRA Newsletter Issue 23/2016

We would like to  bring to your attention to Circular C135 issued by the Cyprus Securities and Exchange Commission ("CySEC") on 6 June 2016 regarding the Statement issued by the European Securities and Markets Authority ("ESMA") regarding MiFID practices for firms selling financial instruments subject to the Bank Recovery and Resolution Directive ("BRRD") resolution regime. Through the said statement the Commission wishes to bring to the attention of the investment firms and credit institutions their responsibility to act in their client's best interest when selling bail-in-able financial instruments.