C.D. Messios LLC has strong and enduring ties with clients throughout the forex and binary options trading industry. The firm has a proven record as an invaluable key advisor to a number of major Cypriot Investment Firms and Investment Funds. We have built on these ties which have ensured a continuous and growing flow of work relating to Cypriot Investment Firm’s compliance and advice.

The financial services team is committed to provide a dedicated and responsive service to its investment firms and funds clients in their dealings with CySEC and other regulators in Cyprus and Europe.

Constantinos Messios leads the firm and, together with the Financial Services team, who advise clients on the implications of the MiFID, EMIR, all relevant Cyprus Laws, CySEC Regulations and Directive. The FS team assists the Firm’s clients in successfully obtaining authorisation from CySEC. Not only does the team have a strong insight into EU financial services regulatory framework, but it also ensures its knowledge is current with the latest developments and technical issues affecting investment firms and all types of hedge funds. In addition, the team is capable of taking on assistance from our corporate and litigation teams as required.

We offer clear terms of engagement at competitive rates with an emphasis on practical commercial solutions. The financial services team is very aware of the time pressure placed on its clients and fully understands the need for immediate assessment of all issues raised and the need for prompt resolution of all problems raised.
The Firm generally and the FS team in particular prides itself in having a personal relationship with all its clients based on trust and mutual respect.

What is a CIF?

A Cyprus Investment Firm (CIF) operates under the authorisation granted by the relevant authority, the Cyprus Securities and Exchange Commission (CySEC) and provides investment and/or ancillary services in relation to financial instruments to professional and retail clients.

The Services we offer:

• Setting up and incorporating a Limited Liability Company under the Laws of Cyprus that will obtain the CIF License.

• Assisting the client in deciding the type of license they will be applying to CySEC for, depending on the financial instruments and services that will be provided by the CIF, which will determine the size of the paid up Share Capital of the Company to be incorporated.

• Application to CySEC includes:
     o Completing detailed Questionnaires of key players (Senior Management, Directors and Shareholders, involved in the ownership chain), who will also need to pass the “Fit & Proper” test, indicating good character and expertise to hold a position in the Company.
     o Detailed Business Plan (outsourced – associated entity).
     o Preparation of the Internal Organisational Diagram and Group Structure of the CIF.
    o Preparation of the Anti-Money Laundering Manual including the procedure for the categorization of clients and Know-Your-Client policies.
    o Preparation of the Internal Operations Manuals detailing the internal operations of the company, in relation to all departments and officers.

• Complaints Procedure

• Internal Auditors (associated entity)

• External Auditors (associated entity)

• Money Laundering Compliance Officer (associated entity)

• Compliance Officer (associated entity)

• Risk Manager (associated entity)

• Legal advice on Website Content

• Outsourcing arrangements (Contracts with external service providers)

• Legal advice on Marketing & Promotion Plan

Upon securing a License, we offer Increasing spectrum of investment services ancillary services, i.e.:

• Extending the CIF license

• Establishing Branches

• Establishing Representative Offices

• Appointing Tied Agents

• Obtaining cross border license to provide investment and ancillary services within EU

• Restructuring of the Company (changing shareholders)

• Day-to-day operational issues and legal support

• Updating and redrafting of:
     o Internal Operations Manual
     o Anti-Money Laundering Manual
     o Clients’ Acceptance Policy

• Tax advice, as required, concerning the implications of operating a CIF through Cyprus and generally operating through Cyprus.

• Representation before CySEC regarding the license procedure and any other issue that may arise in the course of business.

• Negotiation and general communication with the Cyprus Authorities as required for the application as appropriate.

 

Contact Person: Eleftheria Panayiotou at eleftheria@messios.com

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