BRP Country Manual Products
Cyprus, France, Iceland, Ireland & Liechtenstein
BRP has published its latest updates Country Manuals Products for
Cyprus, France, Iceland, Ireland & Liechtenstein
| SOURCE OF CHANGES | ANSWERS |
|---|---|
| Law/Regulation | No |
| New Position of the Authorities | No |
| Evolution of Expert’s interpretation | Yes |
Definitions & Concepts, Regulatory Overview and Behaviour Template
Material changes
The changes/modifications are as follows:
In this context, the country specific requirements are no longer reflected in the Country Manuals Products Behaviour Template (CM P BT) in the offshore scenarios (at source).
Under the “gold plating” rules, EU Member States may go beyond the harmonised framework of the EU directives in certain aspects in their national implementing legislation. In this respect, the “local distribution rules” – in principle – do not need to be taken into account if an investor visits the foreign (unlicensed) service provider on its own initiative outside the target country (at source).
Non-material changes
Some comments and content have been slightly reworded in the CM P, without introducing substansive changes to reflect the regulatory situation/current interpretation of the regulatory framework more accurately.
For more information, please contact us: info@brpsa.com
Geneva, March 26th, 2025