Read the CySEC Circular C747
Memo #70-2025
CySEC Circular No: C747
Date: 29/12/2025
Subject: Clarification to the data collection for onboarding of financial and non-financial counterparties subject to the obligation to apply for authorisation and validation for their initial margin models in accordance with Article 11(3) of Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (‘EMIR’)
Purpose: To clarify regarding an example provided on Circular C740.
In Summary:
CySEC has issued the Circular C747 on 23/12/2025 to inform Cyprus Investment Firms, UCITS and, where relevant, their Management Companies, Alternative Investment Funds (‘AIFs’) established or managed in Cyprus and where relevant, their Alternative Investment Fund Managers (‘AIFMs’) and the Non-Financial Counterparties, for a clarification regarding an example provided with Circular C740.
Specifically, in relation to CySEC Circular C740, the example provided in paragraph B5 of C740 regarding activities exceeding clearing thresholds captures the non-financial counterparties.
Read the CySEC Circular C747
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