10/03/2022 (Agence Europe) – The European Securities and Markets Authority (ESMA) has identified shortcomings in the Cyprus Securities and Exchange Commission (CySEC) and issued recommendations. In its peer review report on the supervision of the cross-border activities of investment firms, published on Thursday 10 March, ESMA noted that Cyprus had recorded, among other things, the highest number of complaints relating to such activities as well as requests from other national competent authorities regarding the cross-border activities of Cypriot investment firms. ESMA’s recommendations relate to Article 16 of the ESMA Regulation, which requires States to ensure that a management company authorised by its home Member State can operate within their territory. They “aim to significantly strengthen the framework for cross-border supervision”, explained the Chair of ESMA, Verena Ross. To read the recommendations: https://aeur.eu/f/pg (AD)