On 26 June 2021 the new prudential framework for investment firms in the EU (including for Cyprus Investment Firms (CIFs)) has entered into force.
A CAPITAL MARKETS UNION
On 26 June 2021 the new prudential framework for investment firms in the EU (including for Cyprus Investment Firms (CIFs)) has entered into force. The new framework forms part of the European Union’s (EU’s) action plan for a Capital Markets Union and comprises of:
• The IFR Regulation, which is the Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019 on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014; and
• The IFD Directive, which is the Directive (EU) 2019/2034 of the European Parliament and of the Council of 27 November 2019 on the prudential supervision of investment firms and amending Directives 2002/87/EC, 2009/65/EC, 2011/61/EU, 2013/36/EU, 2014/59/EU and 2014/65/EU.
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