The regulator urges CIFs to comply with the UKNF's October 2023 position on referral practices.
The UKNF states that only investment firms or their tied agents are authorized to perform client acquisition tasks.
CySEC
The Cyprus Securities and Exchange Commission (CySEC) has
issued a reminder to Cyprus Investment Firms (CIFs) regarding the stance of the
Polish Financial Supervision Authority (UKNF) on referral and affiliate
programmes.
UKNF Bans Individualized Client Acquisition
The UKNF's position, dated October 2023, prohibits clients
of investment firms or unregulated intermediaries from engaging in
individualized client acquisition activities through such programmes.
CySEC noted in its web release that “the UKNF Position
forbids clients of an investment firm or unregulated intermediaries from
undertaking, under referral programmes or affiliate programmes, individualized
actions to acquire clients or potential clients of investment services.”
Source: CySEC
CySEC Urges Compliance with UKNF
It also restricts the sharing of information on the scope of
services provided by investment firms. Only the firms or their tied agents are
permitted to carry out these actions.
The regulator further added: “Moreover, it forbids such
persons from providing information about the scope of the investment services
provided by the investment firm.”
CySEC has urged CIFs to take appropriate measures to ensure
compliance with the UKNF's position.
The
guidelines require investment firm groups to meet consolidated regulatory
standards, similar to banking groups, covering capital adequacy, risk
management, and governance.
Firms
that notify CySEC by this date will be allowed to operate under a transitional
period until July 1, 2026, or until their MiCA authorization decision is made,
ahead of the Markets in Crypto-Assets regulation, which will take effect on
December 30, 2024.
The Cyprus Securities and Exchange Commission (CySEC) has
issued a reminder to Cyprus Investment Firms (CIFs) regarding the stance of the
Polish Financial Supervision Authority (UKNF) on referral and affiliate
programmes.
UKNF Bans Individualized Client Acquisition
The UKNF's position, dated October 2023, prohibits clients
of investment firms or unregulated intermediaries from engaging in
individualized client acquisition activities through such programmes.
CySEC noted in its web release that “the UKNF Position
forbids clients of an investment firm or unregulated intermediaries from
undertaking, under referral programmes or affiliate programmes, individualized
actions to acquire clients or potential clients of investment services.”
Source: CySEC
CySEC Urges Compliance with UKNF
It also restricts the sharing of information on the scope of
services provided by investment firms. Only the firms or their tied agents are
permitted to carry out these actions.
The regulator further added: “Moreover, it forbids such
persons from providing information about the scope of the investment services
provided by the investment firm.”
CySEC has urged CIFs to take appropriate measures to ensure
compliance with the UKNF's position.
The
guidelines require investment firm groups to meet consolidated regulatory
standards, similar to banking groups, covering capital adequacy, risk
management, and governance.
Firms
that notify CySEC by this date will be allowed to operate under a transitional
period until July 1, 2026, or until their MiCA authorization decision is made,
ahead of the Markets in Crypto-Assets regulation, which will take effect on
December 30, 2024.
Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023.
At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London.
Education:
Honours degree Information Technology, Anfell College, London
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Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
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Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
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Watch the full video to see if Hola Prime Markets fits your trading needs.
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▶️ YouTube: /@financemagnates_official
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In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
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▶️ YouTube: /@financemagnates_official
#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
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We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
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Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
