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THE COMMISSION INTERNATIONAL AFFAIRS THE MEMORANDA OF UNDERSTANDING AND COOPERATION
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THE MEMORANDA OF UNDERSTANDING AND COOPERATION
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DESCRIPTION
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.
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MULTILATERAL AGREEMENTS
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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
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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
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No-deal Brexit Multilateral Memorandum of Understanding between each of the EEA competent authorities and the UK Financial Conduct Authority
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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
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BILATERAL AGREEMENTS
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:
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Financial Services Authority – Abu Dhabi
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Financial Supervisory Authority of Albania – Albania
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Australian Securities and Investments Commission – Australia
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Securities Commision - Bahamas
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Central Bank of Bahrain – Bahrain
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Bermuda Monetary Authority – Bermuda
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Comissão de Valores Mobiliários do Brasil – Brasil
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British Virgin Islands Financial Services Commission - British Virgin Islands
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Alberta Securities Commission – Canada
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Autorité des Marchés Financiers du Quebec – Canada
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British Columbia Securities Commission – Canada
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Office of the Superintendent of Financial Institutions – Canada
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Ontario Securities Commission – Canada
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Cayman Islands Monetary Authority – Cayman Islands
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Dubai Financial Services Authority – Dubai
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Egyptian Financial Supervisory Authority – Egypt
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Securities and Exchange Commission of the Republic of North Macedonia – North Macedonia
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Guernsey Financial Services Commission – Guernsey
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Hong Kong Monetary Authority – Hong Kong
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Securities and Futures Commission – Hong Kong
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Securities and Exchange Board - India
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Financial Supervision Commission of the Isle of Man – Isle of Man
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Israel Securities Authority – Israel
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Financial Services Agency of – Japan
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Ministry of Agriculture, Forestry and Fisheries of Japan – Japan
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Ministry of Economy, Trade and Industry of Japan – Japan
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Jersey Financial Services Commission – Jersey
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Financial Services Commission/Financial Supervisory Service - Korea
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Labuan Financial Services Authority – Labuan
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Securities Commission – Malaysia
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Capital Market Development Authority – Maldives
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Financial Services Commission of Mauritius – Mauritius
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National Banking and Securities Commission of the United Mexican States – Mexico
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Securities and Exchange Commission of Montenegro – Montenegro
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Conseil Déontologique des Valeurs Mobilières of Morocco – Morocco
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New Zealand Financial Markets Authority – New Zealand
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Securities and Exchange Commission of Pakistan – Pakistan
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Financial Centre Regulatory Authority – Qatar
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Monetary Authority of Singapore – Singapore
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Republic of Srpska Securities Commission – Srpska
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Financial Services Board of South Africa – South Africa
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Swiss Financial Market Supervisory Authority (FINMA) – Switzerland
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Capital Markets and Securities Authority of Tanzania – Tanzania
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Securities and Exchange Commission Thailand – Thailand
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Emirates Securities and Commodities Authority – UAE
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Commodity Futures Trading Commission – USA
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Federal Reserve Board – USA
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Office of the Comptroller of the Currency – USA
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Securities and Exchange Commission – USA
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State Securities Commission - Vietnam
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Astana Financial Services Authority – Kazakhstan
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Πιστοποιημένος εργοδότης
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