Nicosia, Cyprus. The Cyprus Securities and Exchange Commission (CySEC) issued a circular instructing Cyprus Investment Firms (CIFs) to complete an electronic questionnaire on their cross-border activity during the 2025 calendar year. The reporting exercise was initiated by the European Securities and Markets Authority.
Scope of reporting
The exercise targets firms providing investment services in other member states of the European Economic Area, including Norway, Iceland, and Liechtenstein.
Firms are required to report data for host member states where they provided services to more than 50 retail clients, including clients treated as professionals on request.
The data collection focuses on services provided under the freedom to provide services and must exclude activities conducted through a physical branch.
Client inclusion and exclusion rules
Inactive clients must be excluded from the report if they have been inactive for at least one year, received no services, and generated no revenue for the firm.
Firms must still account for clients who have held an empty securities account for over a year if the firm continues to receive fees, such as account maintenance charges.
Submission process and deadlines
A separate contribution must be submitted for each individual host member state that meets the 50-client threshold.
Relevant firms will receive an email with a link and a password to access the online questionnaire via the European Union survey tool.
The deadline for submitting contributions for each qualifying host member state is March 27, 2026. Any enquiries regarding completion of the form must be sent to CySEC by March 20, 2026.
Have you provided investment services in any EEA host member state to more than 50 retail clients during 2025?