Author Archives: CFA Office

CYFA Informative Circular #9/2020 – Dept of Registrar and Official Receiver – Announcement

Dear CYFA Members,

Please find attached and below for your reference an official announcement released by the Dept of Registrar and Official Receiver regarding the change of the date for imposition of a financial charge for late registration of important documents in the Department.

Following the Registrar’s announcement, dated 23/3/2020, and the publication in the Official Gazette of the Republic “of the Companies (Amending) Law of 2020, N38 (I) / 2020” voted by the House of Representatives on 15/4/2020 and published on the same day in the Official Gazette of the Republic (Par. I (I), No. 4752), the Department of Companies and Official Recipient announces that based on the above Law, the date of application of the measure concerning the imposition of a monetary charge for the late submission to the Department of institutionalized forms, is postponed to 18.12.2020.

Announcement

CYFA Exclusive Sponsors 2020

We are proud to announce Alpha Bank Cyprus Ltd, Global Training, Ebos Technologies and G.A.P. Vassilopoulos Group (UPS) as our exclusive sponsors for the year 2020.

The sponsorships are part of the Cyprus Fiduciary Association’s commitment to collaborate with valued and highly esteemed companies and organisations across the industry in our ongoing effort to serve members to the highest possible standard.

We would like to thank our sponsors for joining forces with CYFA and look forward to working with them closely for the difficult, challenging yet exciting 2020!




Nicosia, 2020
Cyprus Fiduciary Association

CYFA Informative Circular #7/2020 – COVID-19: Extension of Government Financial Support Measures – Update #2

Dear CYFA Members,

Please be informed that as per the President’s announcement on the 8th April 2020, there has been an extension of the movement measures until the 30th of April 2020 and the financial support measures until the 12th of June 2020. Please find below for your information a relevant update with detailed references.

COVID-19 Extension of Support Financial Measures

COVID-19: Balancing work life and parenting at home during these challenging times

Having kids can make you more productive – except when they’re there all the time. So how can you meet work obligations now that schools are closed?

A different view from BBC Worklife’s, Alina Dizik, giving tips on how to balance remote work and parenting during these challenging times.

Read the article here:
www.bbc.com/worklife/article/20200401-how-to-work-from-home-with-your-kids-during-coronavirus

CYFA Informative Circular #5/2020 – CySEC Circular C371 Extension of Deadline

Dear CYFA Members,

Please be informed that the Cyprus Securities and Exchange Commission (‘the CySEC’) has issued today Circular C371 informing all interested parties that due to the developments related to the Coronavirus disease 2019 (COVID-19) the deadlines for the submission to CySEC of the 1) Internal Auditor’s Annual Report, 2) AMLCO’s Annual Report and the 3) Form of the Monthly Prevention Statement provided in the AML/CFT Directive are extended.

To that extent and according to the Circular:
1. The Internal Auditor’s Annual Report and the relevant Board of Directors minutes (paragraph 6 of AML/CFT Directive) should be submitted to CySEC by the end of July 2020 at the latest.
2. The AMLCO’s Annual Report and the relevant Board of Directors minutes (paragraph 10(3) of AML/CFT Directive) should be submitted to CySEC by the end of June 2020 at the latest.
3. The Form of the Monthly Prevention Statement (paragraph 11 of AML/CFT Directive) of March, April and May 2020 should be submitted within 15 days from the end of May 2020

The relevant CySEC Circular C371 is attached for your reference. The CySEC link for your reference is: www.cysec.gov.cy/en-GB/public-info/circulars/supervised/aml-cft/86377/

CySEC C371 Circular

CYFA Informative Circular #4/2020 – CySEC Circular C368 – Form QST-ASP Revised Form and Change of Deadline

Dear CYFA Members,

Please be informed that according to Circular C368, the Cyprus Securities and Exchange Commission following the developments related to the Coronavirus disease 2019 (COVID-19), wishes to inform ASPs, that the deadline of the submission of the Form QST-ASP, is extended by two months later. In this respect and according to the Circular released the Form must be successfully submitted electronically via the CySEC’s Transaction Reporting System (‘TRS’) by 15:00 hrs, Tuesday, June 30, 2020, at the latest.

The relevant CySEC Circular C368 can be found below. The CySEC link for your reference is:
www.cysec.gov.cy/en-GB/public-info/circulars/supervised/service-providers/

CySEC Announcement