The Association of Cyprus International Financial Firms (ACIFF) is a representative body of Financial Firms regulated in Cyprus.
The mission of ACIFF is the representation of its Members’ views and interests, in all aspects of their activities, including the prompt and reliable briefing of the legislation, regulations, directives and any relevant information, which is related to their daily operations.
(1) The protection, growth and representation of the interests and professional rights of its Members or any other of their interests and their rights as well as the study of all issues and problems which affect them or which are related to them.
(2)The promotion and strengthening of permanent contact between its Members so as to facilitate the study of all issues and problems related to the investment sector and financial sector more generally.
(3)The protection of the interests of its Members regarding its relations with public or Governmental bodies the competent supervisory authorities and the collaboration with such bodies and the competent supervisory authorities and particularly with the Cyprus Securities and Exchange Commission.
(4)The establishment and promotion of agreements between its Members in regards to the technical terms and practice that regulate the investment and ancillary services and activities always within the limits of legislation in effect.
(5)The encouragement of researches and studies on issues relating to the investment services and activities sector and the financial sector in general, of economic and statistical studies and researches.
(6)The collection and evaluation of information and studies by Cypriot and alien investment firms and other financial institutions of Cyprus and abroad for the growth of investment business, the investment sector and generally the financial sector.
(7)The growth of good relations between its Members and of spirit of good collaboration between them, for the dealing of questions of collective interest and the forming of collective policy and common positions of its Members always within the limits of legislation in effect.
(8)The examination and evaluation of the laws, regulations and decisions of the state, the European Union and the Supervisory Authorities, that concern the investment firms and financial companies and organisms, as well as of the repercussions from their application and the forming of common positions and the promotion of collective decisions where this is needed.
(9)The collaboration with the Authorities for the improvement of the institutional framework that governs the exercise and the growth of investment services and activities, as well as for the adaptation to regulations of the European Union.
(10)The collaboration with the Supervisory Authorities for the pre-approval of applications for Financial Firms authorization by the Association of Cyprus International Financial Firms (ACIFF), as a self-regulating body and the promotion of such application to the Supervisory Authorities, subject to the approval of such procedure by the relevant Supervisory Authority.
(11)The Collaboration with the Supervisory Authorities for the supervision and performance of audits the subject matter thereof being to verify the compliance with the law by the Financial Firms operating in Cyprus.
(12)The employment, hire, training of professional, administrative and technical personal and the services of all or any of them and the handling of these services to the advantage of the Association of Cyprus International Financial Firms (ACIFF), or to its interest.
(13)The promotion of actions for the improvement of training of employees of investment and financial firms, with the growth and organization of every form of educational activities, seminars, conferences, concentrations, lectures and other mass training events, the attendance in events that are organized in Cyprus and abroad, the publication of appropriate books and the assistance for the creation of suitable bodies and collaborations to that end.
(14)The collaboration with similar Associations, Bodies and Federations of other countries, bodies of the European Union and international bodies that have as their object the promotion of issues of investment interest with the purpose to promote growth and the institutions of the Cypriot investment sector and its interconnection with the international environment.
(15)The projection of the Cypriot investment system to the public and particularly its contribution to the investment, economic, cultural and social growth of the country.
(16)The representation of its Members regarding all subjects relating to the Cypriot investment system before the Public Authorities, the Supervisory Authorities, the Parliament, organizations, advisory bodies and other institutions in the interior and abroad.
(17)Without prejudice to the provisions of article of 16 the Companies Law (CAP. 113), the repurchase, or acquisition with leasing, the exchange, or renting, or the acquisition in any other way of any mobile property or land and of any rights or privileges, which the Association of Cyprus International Financial Firms (ACIFF), considers necessarily or useful for the success of its objects, as well as the construction, maintenance and modification of buildings or constructions which it considers necessary for the carrying out its work.
(18)The sale, leasing, mortgaging, pledging, disposal or development in whole or in part of its property or its asset in a way it considers useful for the promotion of its objects.
(19)The borrowing or discovery of funds for the purposes of its objects, with such terms and guarantees that it deems advantageous.
(20)The donation of money for charitable, social, cultural or other purposes, which are connected some way to or contribute in the promotion of its objects and the investment of not immediately necessary residues in investments that it deems advantageous.
(21)The collaboration with organizations, public and private companies in Cyprus and abroad that can help in promoting the objects of the Association of Cyprus International Financial Firms (ACIFF).
(22)The carrying out of any other legal activity which is incidental or conducive to the attainment of the above objects of the Association of Cyprus International Financial Firms (ACIFF).
However the Association of Cyprus International Financial Firms (ACIFF), will not assist with its resources any aim, neither will it attempt to impose or promote, the observation from the Members or from any others of any agreement, restriction or terms which, if it constituted an object of the Association of Cyprus International Financial Firms (ACIFF), it would render it a Union