CySEC advises investment firms to monitor risks due to possible Brexit
The Cyprus Securities and Exchange Commission (CySEC) today published a Circular (C130) advising the Cyprus Investment Firms (CIFs) to keep a close eye on risks associated with a possible exit of the United Kingdom from the European Union.
The Cypriot securities regulator reminds CIFs that a referendum will be held in the UK on June 23, 2016, to decide whether the UK will leave or remain in the European Union. In case of a possible exit of the UK, there might be an impact on the financial markets, the regulator notes.
That is why, the CIFs which are active in the UK and/or maintain accounts in sterling pound, or offer products with the sterling pound are asked to closely monitor the risks to which they, or/and their customers are exposed or could be exposed and where necessary, take measures to minimize such risks.