Cyprus Securities and Exchange Commission | The Memoranda of Understanding and Cooperation

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The Memoranda of Understanding and Cooperation signed between the Cyprus Securities and Exhange Commission (CySEC) and the Supervisory Authorities or other agencies of other jurisdictions create a framework and procedures for close cooperation to facilitate the exchange of information between the parties for the better monitoring of transactions and activities in the field of securities markets. At the same time, a framework is created to promote the exchange of experiences, expertise and good practices which will contribute positively to the expansion and strengthening of supervisory practices and procedures. Moreover, these memoranda underline the spirit of mutual cooperation between the Supervisory Authorities and other organizations abroad as well as the openness of our economies, helping to increase fruitful business relations between Cyprus and other countries, to the benefit of national financial markets.

The CySEC may establish such protocols for the cooperation with supervisory authorities or other organisations abroad in the form of Memoranda of Understanding and Cooperation in accordance with paragraph 29 of the Cyprus Securities and Exhange Commission Laws of 2009 to 2013^{^[1]}. These Memoranda provide for the exchange of information, cross-border inspections and the collection of information by one Authority on behalf of another in view of ongoing investigations, and generally to provide mutual assistance in order to ensure compliance with the relevant laws governing securities markets.

In accordance with paragraph 17(5) of Directive DI144-2007-01 of 2012 for the Authorisation and Operating Conditions of the Cyprus Investment Firms (CIFs)^{^[2]}, the CySEC must publish a list of the competent Supervisory Authorities of third countries with which it has established cooperation agreements pursuant to the purpose of subparagraph 17(1)(b) of the same Directive.

[1] Cyprus Securities and Exchange Commission Law of 2009-2013

[2] Directive DI144-2007-01 of 2012 for the Authorisation and Operating Conditions of the CIFs

MULTILATERAL AGREEMENTS

Multilateral Memorandum of Understanding on Cooperation Arrangements and Exchange of Information with the Regulatory Authorities of the Member-States of the European Union under the umbrella of the European Securities and Markets Authority - ESMA

The full text of the Memorandum is available at the following link:
https://www.esma.europa.eu/sites/default/files/library/2015/11/2014-608_mmou_on_cooperation_arrangements_and_information_exchange.pdf

Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information of the International Organization of Securities Commissions (IOSCO)

The full text of the Memorandum is available at the following link:
http://www.iosco.org/library/pubdocs/pdf/IOSCOPD386.pdf

The list of all the current signatories and members is available at the following link:
http://www.iosco.org/about/?subSection=mmou&subSection1=signatories

No-deal Brexit Multilateral Memorandum of Understanding between each of the EEA competent authorities and the UK Financial Conduct Authority

Multilateral Agreement between the European Central Bank and the competent supervisory Authorities for the purposes of the exchange of information in relation to the prevention of money laundering and terrorist financing issues

BILATERAL AGREEMENTS

The CySEC has signed bilateral Memoranda of Understanding with the following Regulatory Authorities:

The abovementioned list is also provided for the purposes of the Article 32 (3) of the Delegated Regulation 2017/565 to disclose the supervisory authorities in third countries with which CySEC has a cooperation agreement.

MEMORANDA OF UNDERSTANDING WITH RESPECT TO THE EUROPEAN DIRECTIVE ON ALTERNATIVE INVESTMENT FUND MANAGERS

Pursuant to paragraph (2)(a) of section 44 of the Alternative Investment Fund Managers Law^{^[1]}, transposing the European Directive on Alternative Investment Fund Managers (AIFMD) into national law, to allow fund managers based outside the EU to access EU markets or perform fund management through delegation from managers of the EU, the CySEC has to conclud cooperation agreements providing for the exchange of information with the Supervisory Authorities or other Authorities or bodies of third countries.

The CySEC has already signed Memoranda of Understanding and Cooperation for the enhanced supervision of Alternative Investment Fund Managers with the following Supervisory Authorities that are not part of the EU:

Financial Services Authority – Abu Dhabi
Financial Supervisory Authority of Albania – Albania
Australian Securities and Investments Commission – Australia
Securities Commision - Bahamas
Central Bank of Bahrain – Bahrain
Bermuda Monetary Authority – Bermuda
Comissão de Valores Mobiliários do Brasil – Brasil
British Virgin Islands Financial Services Commission - British Virgin Islands
Alberta Securities Commission – Canada
Autorité des Marchés Financiers du Quebec – Canada
British Columbia Securities Commission – Canada
Office of the Superintendent of Financial Institutions – Canada
Ontario Securities Commission – Canada
Cayman Islands Monetary Authority – Cayman Islands
Dubai Financial Services Authority – Dubai
Egyptian Financial Supervisory Authority – Egypt
Securities and Exchange Commission of the Republic of North Macedonia – North Macedonia
Guernsey Financial Services Commission – Guernsey
Hong Kong Monetary Authority – Hong Kong
Securities and Futures Commission – Hong Kong
Securities and Exchange Board - India
Financial Supervision Commission of the Isle of Man – Isle of Man
Israel Securities Authority – Israel
Financial Services Agency of – Japan
Ministry of Agriculture, Forestry and Fisheries of Japan – Japan
Ministry of Economy, Trade and Industry of Japan – Japan
Jersey Financial Services Commission – Jersey
Financial Services Commission/Financial Supervisory Service - Korea
Labuan Financial Services Authority – Labuan
Securities Commission – Malaysia
Capital Market Development Authority – Maldives
Financial Services Commission of Mauritius – Mauritius
National Banking and Securities Commission of the United Mexican States – Mexico
Securities and Exchange Commission of Montenegro – Montenegro
Conseil Déontologique des Valeurs Mobilières of Morocco – Morocco
New Zealand Financial Markets Authority – New Zealand
Securities and Exchange Commission of Pakistan – Pakistan
Financial Centre Regulatory Authority – Qatar
Monetary Authority of Singapore – Singapore
Republic of Srpska Securities Commission – Srpska
Financial Services Board of South Africa – South Africa
Swiss Financial Market Supervisory Authority (FINMA) – Switzerland
Capital Markets and Securities Authority of Tanzania – Tanzania
Securities and Exchange Commission Thailand – Thailand
Emirates Securities and Commodities Authority – UAE
Commodity Futures Trading Commission – USA
Federal Reserve Board – USA
Office of the Comptroller of the Currency – USA
Securities and Exchange Commission – USA
State Securities Commission - Vietnam
Astana Financial Services Authority – Kazakhstan