This guide is written for forex brokers, CIFs, payment and trading firms. Rules change regularly and individual circumstances vary, so speak to a Tsquared accountant before acting. We regularly help clients with capital adequacy under ifr/ifd, client-money reconciliations, cysec prudential returns.
Key points
- Central Bank licence
- Safeguarding
- Own funds
- Regulatory returns
Challenges you face, solutions we provide
Challenge: Capital adequacy under IFR/IFD
Our solution: Monthly IFR/IFD monitoring against minimum, fixed-overheads and K-factor requirements
Challenge: Client-money reconciliations
Our solution: Daily client-money reconciliations and the annual safeguarding audit
Challenge: CySEC prudential returns
Our solution: Every CySEC prudential and statistical return filed on time
Challenge: Introducing-broker payments
Our solution: IB and affiliate contracts, VAT treatment and KYC kept clean
Challenge: Transfer pricing across groups
Our solution: Transfer-pricing documentation and benchmarking for the whole group
Frequently asked questions
- Payment and e-money firms: what's the short answer?
- Cyprus payment institutions and EMIs licensed by the Central Bank need safeguarding, capital and regulatory returns similar to CIFs.
- Can Tsquared help with payment and e-money firms?
- Yes. We advise forex brokers, CIFs, payment and trading firms in Cyprus on payment and e-money firms and handle the filings for you.