03 August

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Depositing Client Financial Instruments

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DIRECTIVES COMMISSION DELEGATED DIRECTIVE (EU) 2017/593 of 7 April 2016 Supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to safeguarding of financial instruments and funds belonging to clients, product governance obligations and the rules applicable to the provision or reception of fees, commissions or any monetary or non-monetary benefits Member States shall allow investment firms to deposit financial instruments held by them on behalf of their clients into an account or accounts opened with a third party provided that the firms exercise all due skill, care and diligence in the selection, appointment and periodic review of the third...

02 August

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Safeguarding of Client Financial Instruments and Funds

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DIRECTIVES COMMISSION DELEGATED DIRECTIVE (EU) 2017/593 of 7 April 2016 Supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to safeguarding of financial instruments and funds belonging to clients, product governance obligations and the rules applicable to the provision or reception of fees, commissions or any monetary or non-monetary benefits. Member States shall require that investment firms comply with the following requirements: (a) they must keep records and accounts enabling them at any time and without delay to distinguish assets held for one client from assets held for any other client and from their own assets. (b) they must maintain their...

01 August

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Preparing Financially for Divorce

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Most individuals who go through divorce, do not have a prenuptial agreement, meaning that when a divorce takes place, the finances and property must be divided. Anyone anticipating divorce should consider a few things in advance. While friends and family may provide recommendation in these matters, it is best to remember that each state has different divorce laws. Similarly, the laws that impacted a friend’s divorce years ago may have modified and nothing can take the place of direct attorney advice. How to Prepare Your Finances for Divorce The first step in financial planning for a divorce is to recognize in which things...

31 July

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Abusing Children through the Internet

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Child abuse has lengthy been an issue, but the internet has opened up doorways for more abuse incidents to occur. Nowadays, it is essential to state that there are quite a few problems with the recent development of technology. One is that it makes it harder to catch the guilty and those who are being responsible of committing the particular offence. Another alternative reason is that laws face totally difficult time to keep up with technology. This makes more difficult for some individuals to prosecute against those who are guilty of abusing children online though a good lawyer whilst is capable...

28 July

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Constitutional Right to a Fair Trial in United States of America

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While a person is accused of a criminal offence, the consequences at stake are significant. A conviction can mean the lack of freedom with years behind bars. Having a criminal record can affect the relaxation of a person’s life and restrict career and educational opportunities. Due to these possibilities, many criminal defendants seek legal counsel. Some defendants negatively think that they can handle the case on their own. But, the criminal justice system is complex and difficult for people to navigate if they are unfamiliar with it. A simple mistake such as missing a deadline can eventually result in a conviction...

27 July

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Facts You Need to Know if Fighting for Primary Child Custody

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Combating for the custody of a child is usually a battle whilst dealing with a spouse that may appear to the court to be more suitable and in a better position to provide greater nurturing. This means that the individual has to seek all the information he/she is capable of finding to better his or her probabilities. This may lead to a family law legal representative or recommendations and fact sheets online or through loved ones. Regardless of who is seeking the custody, it may be a difficult fight depending on all the circumstances of the case and those involved. There...

26 July

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Criminal Tax Issues and Audits

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Criminal Tax Issues and Audits Audits have a tendency to to arise when there is a suspected tax crime. It is significant to certify a civil examination whilst accomplished with cooperation, a calm presence and peaceful actions. The revenue agent provided for the investigation should not be misled or lied to. With all information revealed properly even after the examination initiates, a criminal investigation may not be the subsequent procedure. This indicates that additional criminal prosecution can be unnoticed of the processes. There are some instances that offer allowances after an audit has begun. These may also encompass foreign bank accounts with...

25 July

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Freedom to provide investment and ancillary services and/or perform investment activities in a third country

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Following Circular C192, issued on March 3, 2017, regarding the freedom to provide investment and ancillary services and/or perform investment activities in a third country, the Cyprus Securities and Exchange Commission (‘the CySEC’) requests, in the context of its supervisory powers, the following: The Cyprus Investment Firms (‘the CIFs’) must assess their existing third-country-passports and consult with their legal consultants by taking the appropriate legal advice, and/or letters/ official documents from the competent authority of the host third-country, affirming either the carrying out of legitimate investment services and activities (holding a relevant authorization), or the exception of holding such authorization,...

24 July

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Collecting a Second Passport

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Widespread Globalization has created a new class of mobile citizen seeking various nationalities. A second or probably more nationality provides the high net worth individual living in a fractious world with a way to pursue business, financial and personal opportunities in geographies with political and economic stability and better general quality of life. Significantly, an additional passport can facilitateTop of FormBottom of Form residency abroad, ease of travel and access to mobility of personal assets. Obtaining a passport has never been simpler for those of way. Entering Citizenship by Investment Programs (CIPs) is currently one of the most famous methods of...

21 July

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What is a Tied Agent?

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Introducing Tied Agent: A tied agent is an individual who established in a member state, who, acting under the full and unconditional responsibility of only one Investment Firm on whose behalf it acts, promotes investment and/or ancillary services to clients or provides the services of either receiving and transmitting instructions or orders, placing financial instruments or providing investment advice in respect of the financial instruments and services provided by the Cyprus Investment Firm. Key Points: Some minor changes are made to the rules relating to tied agents, including one clarifying that tied agents will be able to hold money belonging to clients. ...

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