MiFID II Regulations Prompt CySEC to Suspend ‘Fast Track’ CIF Licensing

[kreslik.news]

The implementation of the upcoming MiFID II regulatory framework in the beginning of 2018 is prompting national regulators to reassess some procedures. The latest announcement from the Cyprus Securities and Exchange Commission (CySEC) is focusing on the fast track process of licensing Cyprus Investment Firms (CIFs).

The watchdog has published a communique on its website informing prospective licensees that it is suspending its ‘fast track’ process. The CySEC announced this back in 2015, but it wasn’t relevant to brokers. The process was popular amongst alternative investment fund managers (AIFs) and undertakings for collective investments in transferable securities (UCITS).