The Cyprus Securities and Exchange Commission (CySEC) published a consultation paper proposing to amend the law governing Administrative Service Providers (ASPs) so that an ASP’s authorisation would cease only after CySEC issues a withdrawal decision, rather than automatically lapsing when the licensed entity submits an express waiver. The change would make the cessation of ASP operations subject to supervisory review. Under the proposed framework, CySEC would be able to assess the circumstances surrounding a waiver and, where necessary, require steps to support an orderly wind-down. The regulator would also be able to review the reasons for the waiver and assess potential implications for third parties, and notes that the approach is aligned with practices applied to other entities under its supervision.
Cyprus Securities and Exchange Commission 2025-07-30
Cyprus Securities and Exchange Commission launches consultation to end automatic lapse of ASP authorisation on express waiver
The Cyprus Securities and Exchange Commission (CySEC) is consulting on amending the law for Administrative Service Providers (ASPs) to ensure authorisation ceases only after CySEC issues a withdrawal decision. This change would allow CySEC to review waiver circumstances and require steps for an orderly wind-down, aligning with practices for other supervised entities.