Cyprus Mail
Business Cyprus

Impact of Swiss franc on business

THE SECURITIES and Exchange Commission (CySEC) has “urgently requested” from investment firms to report any problems from the Swiss National Bank’s recent decision to scrap the minimum exchange rate with the euro.

The surprise decision led to a sharp revaluation of the Swiss franc.

In a circular to investment companies on Friday, the CySEC has asked them to respond by Tuesday whether the move has impacted their business in any way, or their clients’ funds.

If there was an impact, CySEC said companies must provide a detailed analysis and the measures they were putting in place to rectify the problem.

 



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