CySec: Regulation for Ukraine 

The Cyprus Securities and Exchange Commission (CySec) informs, the Cyprus Investment Firms, the Management Companies, the Administrative Services Companies and the Regulated Markets (‘the Regulated Entities) about the publication in the Official Journal of the European Union of the Council Implementing Regulation (EU) No.433/2014 of 28 April 2014 implementing Regulation (EU) No.269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine (‘the Regulation’). The Regulation refers to persons in addition to those mentioned in the Regulation with No 269/2014.

Pursuant to Regulation, with effective date as of April 28, 2014, all funds and economic resources belonging to, owned, held or controlled by any natural persons or natural or legal persons, entities or bodies associated with them as listed in Annex shall be frozen.

Therefore, the Commission requests ALL Regulated Entities to check immediately whether they have as a client any of the persons listed in Annex of the Regulation and if so, to freeze immediately all funds and/or economic resources that held, administered or managed on his behalf or on behalf of the persons associated with him.

Following this, ALL Regulated Entities are requested to inform the Commission, by Tuesday May 13, 2014, the latest, at the electronic address supervision@cysec.gov.cy, whether they have such clients or not. If so, their names, the type of the assets freezed (e.g. cash, financial instruments) and the total value of them must be declared.

 

Source: CySec

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