The Cyprus Securities and Exchange Commission (“CySEC”) has announced that it has been appointed by the Minister of Finance under a Ministerial Notification as the competent authority for the purposes of Regulation (EU) No 909/2014 (the Regulation on settlement and Central Securities Depositories) in respect of:
- the authorisation and supervision of Central Securities Depositories regarding the core services listed in Section A of the Regulation,
- the authorisation and supervision of CSD regarding the non-banking type ancillary services listed in Section B of the Regulation,
- cooperation with competent authorities of other member states, relevant authorities, the European Securities and Markets Authority and the European Banking Authority.
The Ministerial Notification also appoints the Central Bank of Cyprus as the competent authority for the authorisation and supervision of the banking-type ancillary services listed in Section C of the Regulation.