Global Licensing

Unparalleled experience and expertise in obtaining global licenses in EU and offshore jurisdictions for investment firms including Forex Brokers (FX & CFDs)

Increasing regulation globally and the introduction of MiFID II in EU countries have added complexity in applying for and operating an investment firm. Selecting the right advisory firm to guide you through the process and help you operate has never been more essential. Our licensing and advisory experts have years of experience with global investment firms and regulators around the world including but not limited to Cyprus (CySEC), the UK (FCA), Australia (ASIC), South Africa (FSCA), Dubai (DFSA) and many others including offshore jurisdictions like the Seychelles (FSA), Cayman Islands (CIMA), the Bahamas (BFSB), Bermuda (BMA) and St Vincent and the Grenadines. We are here to help you navigate through a challenging environment and turn potential issues into opportunities.
Some of the areas of specialization of Deneo Partners:
  • Analysis of operations and advise as to best jurisdiction (s) to obtain license as well as to the type of license to be obtained
  • Assistance with application process and continues follow up with regulators until license is issued (Business Plan, Compliance Manual, AML Manual, Operations Manual)
  • Assistance with initial set up, including full systems set up (front and back end) board composition, hiring of employees and rental of premises
  • Assistance with compliance support, accounting, internal audit and external audit
  • Preparation of business plan and consulting with regards to strategic direction

Compliance Consulting

With regulatory pressure increasing around the world, Deneo is the right partner for any investment firm that needs support in running an efficient and high quality compliance function

Our very experienced compliance team provides support on all compliance and AML related matters. We assist companies globally during the full cycle of the compliance function, from the initial set up to ongoing support. Increased regulation through the introduction of MiFID II has a material impact on investment firms operating in the EU, making the compliance function as important as ever. In these times of increasing regulation, Deneo is the right partner you need to prepare for the challenges ahead. Assist the management of investment firms to develop a unique to their business Internal Capital Adequacy Assessment Process (ICAAP) as well as assist and consult on the preparation of Capital Adequacy Returns (CAR).
Some of the areas of specialization of Deneo Partners:
  • Assistance with the initial set up of the compliance function including set up of policies and procedures and hiring of qualified employees
  • Strategic review of compliance function and evaluation of systems and controls
  • Day to day operational support including reporting to the regulators
  • Advice on capital adequacy requirements
  • Continues training of members of compliance functions

MiFID II

The way investment firms operate in Europe has changed fundamentally. We can help you address the challenges and realize the opportunities that MiFID II can bring

The EU's revised Markets in Financial Instruments Directive (MiFID) and Markets in Financial Instruments Regulation (together MiFID II) went live in January 2018. MiFID II seeks to make financial markets in Europe more transparent, resilient and investor-friendly. MiFID II applies to MiFID firms, i.e. those Financial Services business undertaking MiFID II Business anywhere in the European Economic Area. It affects all participants in the EU's financial markets, whether they are based in the EU elsewhere. We are fully prepared and qualified to help our clients identify and deal with all changes.
Some of the areas of specialization of Deneo Partners:
  • Full review and analysis of impact MiFID II has in your business and operations
  • Recommendations for required actions and support in implementing them
  • Training of compliance function on all MiFID II related matters

Payment Providers

We assist Electronic Money Institutions (EMI) and Payment Institutions (PI) with the Initial set-up and licensing services and also provide ongoing support post authorization

Electronic Money Institutions (EMI) and Payment Institutions (PI) are becoming integral parts of the Global economy. Cyprus is quickly becoming a hub for such institutions with the Central Bank of Cyprus having general oversight of the sector. We help and guide companies through the application process, providing support for all business and operational aspects post authorization.
Some of the areas of specialization of Deneo Partners:
  • Full support during the authorization process
  • Preparation of all internal policies and procedures manuals
  • Assistance with selecting board members and key employees
  • Support on all key functions like compliance, accounting, internal and external audit
  • Training of employees for all key functions

GDPR

"17 years ago less than 1% of Europeans used the internet.  Today, vast amounts of personal data is transferred and exchanged, across continents and around the globe in fractions of seconds"

The introduction of the GDPR in May 2018 changed the way data is collected, shared and used worldwide. The GDPR has a wider reach of data types covered and it requires organizations to prove specific, explicit consent for data processing. Every business needs to understand and adapt their policies and procedures in order to respond to the changes and make themselves compliant. It is essential that your business is prepared for these changes to mitigate the risks that include very high fines. Deneo and its qualified personnel assist clients in becoming GDPR compliant, minimizing the risk of violating Data Protection laws.
Some of the areas of specialization of Deneo Partners:
  • Review of main policies to ensure assistance with GDPR (Privacy Policy, Client Agreement, Cookies Policy, agreements with 3rd parties, etc.)
  • Detailed organizational data mapping (for data held internally and shared with 3rd parties)
  • Draft of detailed data protection policy and code of conduct
  • Employee training sessions including explanation of responsibilities for Data Protection Officer (DPO)
  • Data Protection Impact Assessment (DPIA)

CPD Courses

We offer a variety of Continuing Professional Development (CPD) courses that cover requirements for the CySEC certificate holders

It is compulsory that certified persons need to undergo annual training to satisfy the criteria of Continuing Professional Development in order to maintain their certification. Our seminars focus on satisfying the CPD requirements of the CySEC by offering an update to the current developments of the Cyprus Law regarding CIFs and their obligations.
Some of the areas of specialization of Deneo Partners:
  • Anti-Money Laundering Seminars
  • Markets in Financial Instruments Directive II - MiFID II seminars
  • The Internal Capital Adequacy Assessment Process (ICAAP) seminar
  • Seminars on other relevant areas or in-house seminars upon request
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