The Cyprus Capital Market Commission (CCM) today urged Cyprus Investment Companies (CICs) to familiarize themselves with Circular No. 010/2023 – Financial intermediaries in advertising, CMVM publication, on advertising by financial intermediaries in Portugal.
In particular, the CMVM requests financial intermediaries registered with the CMVM and financial intermediaries carrying out financial intermediation activities in Portugal through the freedom to provide services, in accordance with current legislation, to ensure the following:
- the advertising they deliver includes “entity recognition”, regardless of the channel used;
- all information provided is complete, true, current, clear, objective and legal and
- when referring, in their advertisements, to potential benefits of an investment service or financial instrument, they must also correctly and clearly state the associated risks of that investment service or financial instrument.
CySEC urges all CIFs that advertise the provision of financial services and/or financial instruments to investors in Portugal to take, where necessary, the appropriate actions and measures to comply with the CMVM Circular.