CySEC
New Form CA-CIF (‘Country Analysis’ Form), for the provision of investment services and activities per country
20 May 2022
The present Circular is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law (the "CySEC Law").
CySEC
CIF’s on-going monitoring of their prudential requirements
19 May 2022
The Cyprus Securities and Exchange Commission ("CySEC") wishes herein to remind all Cyprus Investment Firms (the "CIFs") of the necessary steps they must take when they no longer meet their own funds requirements and/or concentration limits, as well as their obligation to have sound administrative and accounting procedures and robust internal control mechanisms.
17 May 2022
The CySEC wishes herein to collect information on any cybersecurity incidents, in order to further assess cybersecurity risks and take any required actions.
EBA
Adopts decision on supervisory reporting for intermediate EU parent undertaking threshold monitoring
18 May 2022
The European Banking Authority ("EBA") has adopted a decision on supervisory reporting for EU parent undertaking Inter Parliament Union ("IPU") threshold monitoring for those entities belonging to third country groups, including third-country branches. Competent authorities shall report to the EBA information on the total value assets held by these entities within the scope of their jurisdiction in the format specified in the Annexes to the Decision. For more information please press here.
EBA
Publishes peer review on management of non-performing exposures
17 May 2022
The EBA published the conclusion of its peer review of how prudential and consumer protection authorities supervise the management of Non-Performing Exposures ("NPE") by institutions and have implemented the EBA Guidelines on the management of NPE. The analysis suggests that the competent authorities across the EU have applied a risk-based approach to the supervision of NPE management. The EBA has not identified any significant concerns regarding the supervision practices but makes some general recommendations for further improvements. For more information please press here.
Market News
Bloomberg Lebanon’s bond restructuring faces more delays after election
20 May 2022
" Lebanon’s creditors are bracing for an even longer wait for a debt restructuring deal after an inconclusive parliamentary election cast more doubt about the country’s ability to deliver reforms needed to unlock crucial International Monetary Fund aid." For more information please press here.
Reuters
China quietly increases purchases of low-priced Russian oil
20 May 2022 "China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data and oil traders who spoke to Reuters, filling the vacuum left by Western buyers backing away from business with Russia after its invasion of Ukraine in February." For more information please press here.
Financial Times
Meme-themed, social media-driven ETFs plummet in value
20 May 2022 " Reddit’s Wall Street Bets crowd may once have vowed to take meme stocks 'to the moon', instead they and the exchange traded funds that focus on them have been eclipsed by steady, boring earthbound investments." For more information please press here.
Cryptocurrencies
Bloomberg
UK regulator scrutinizes terra fallout
20 May 2022
"The UK’s market regulator is paying close attention to the chaos in crypto markets after the implosion of Terra, one of the biggest experiments in decentralized finance." For more information please press here.
Regulatory Reporting Solutions
Treppides Regulatory Reporting offers extensive reporting solutions under EMIR, MIFID, CRD IV, FATCA, CRS, REMIT towards MiFID II / MiFIR and CRS in all EU/ESMA jurisdictions like Cyprus (CySEC) and UK (FCA) and soon will also comply with foreign jurisdictions such as ASIC DTR.
