The Central Bank of Cyprus (CBC) is the competent authority for the prudential supervision and regulation of credit institutions that provide one or more investment services and/or perform investment activities in the Cyprus Republic.
Credit institutions provide investment services in the Republic provided that these services are covered by the authorisation granted to them by the Central Bank or the competent authority of another member state.
A third-country credit institution that intends to provide in the Republic, investment services or perform investment activities with or without any ancillary services to retail clients or to professional clients must establish a branch in the Republic after a prior authorisation by the Central Bank under the Business of Credit Institutions Law of 1997 as amended or replaced.
Investment services and activities are subject to the Investment Services and Activities and Regulated Markets Law of 2017 (N87(I)2017) which constitutes harmonisation with the European Directive 2014/65 on markets in financial instruments known as MiFID II and to the European Regulation 600/2014 known as MiFIR, as well as to other related regulations, regulatory and implementing technical standards and guidelines.