Read the CySEC Circular C754
Memo #6-2026
CySEC Circular No: C754
Date: 09/02/2026
Subject: Electronic Cross-Border Form, Freedom to Provide Investment Services and Activities (Cross Border Activity)
Purpose: To inform CIFs regarding the Cross-border online questionnaire.
In Summary:
CySEC has issued the Circular C754 on 09/02/2026 to inform the Cyprus Investment Firms (CIFs) that the European Securities and Markets Authorities (‘ESMA’) initiated the exercise for Cross Border Activity.
This exercise is addressed to all Investment Firms (‘firms’) providing investment services in other Member States of the European Economic Area (i.e. including Norway, Iceland, and Liechtenstein), other than their home Member State, during the year 2025.
CySEC informs that, as in the previous year, the exercise will be conducted via EU’s online platform having the format of an online questionnaire (electronic form).
CySEC further informs that the Cross-border online questionnaire must be completed by CIFs that were authorised by 31/12/2025, and which have provided cross-border services to more than 50 active retail clients, (including clients treated as professionals on request according to Section II of Annex II of MiFID II) (therein ‘retail clients’), in at least one host Member State. Inactive clients shall be excluded. The Circular C754 refers to which clients are considered to be inactive. CIFs may use the residence of the client(s), in order to assess whether investment services and activities, are provided in other Member States.
Information collected through the Cross-border online questionnaire on the CIFs’ cross border activity refers to the reporting period 01/01/2025 – 31/12/2025 and reference date 31/12/2025, as relevant.
CySEC also informs that CIFs that fall under the scope of this exercise must provide a single, valid, company email address to CySEC to which the Cross border electronic form will be forwarded to, by sending an email to riskstatistics.cifs@cysec.gov.cy, by Wednesday 18/02/2026, at the latest.
CIFs that do not reach the materiality threshold of more than 50 active retail clients, in at least one EEA Member State, should inform CySEC of the fact that they are not required to complete the Form, by sending an email to riskstatistics.cifs@cysec.gov.cy, by Wednesday 18/02/2026, at the latest.
CySEC will send the link of the Cross-border electronic form, only to those CIFs that fall under the scope of this Cross Border exercise.
Furthermore, CySEC informs that detailed information regarding the completion of the Cross-border electronic form, as well as the deadline of submission, will be sent via a new Circular, that will be published in due time.
Read the CySEC Circular C754
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