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The revised European Union Markets in Financial Instruments Directive (MiFID II) has been transposed into Cyprus law, as published in the Official Gazette of Cyprus on 7 July 2017. The new law, which will apply in Cyprus from 3 January 2018, introduces significant changes to the Investment Services and Activities and Regulated Markets Law of 2007 to 2016.  It aims to increase transparency and afford investors greater protection through increased regulation and enhancement of powers of regulators