CySEC
EU Council's Restrictive Measures against Russia due to its military aggression against Ukraine – “maintenance and alignment” sanctions package
19 August 2022 Further to the notifications sent, dated 22 July 2022, via through the RSS Service from the “Sanctions/Restrictive Measures” section on the Cyprus Securities and Exchange Commission’s ("CySEC") website, regarding the “maintenance and alignment” sanctions package adopted by the Council of the European Union ("EU Council") against Russia due to its military aggression against Ukraine, CySEC wishes to draw the attention of the Regulated Entities to the amendment of Article 9 of Council Regulation (EU) 2022/1273 of 21 July 2022 implementing Regulation (EU) No. 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine, as published in the Official Journal of the European Union, dated 21 July 2022. Article 9 is quoted in its entirety, after its amendment.
ESMA
Updates the European Single Electronic Format reporting manual
24 August 2022
"The European Securities and Markets Authority ("ESMA"), the EU’s securities markets regulator, published the annual update of its Reporting Manual on the European Single Electronic Format ("ESEF"). This year’s highlight is the new guidance in relation to the ESEF regulatory technical standards ("RTS") requirement to mark up the notes to the IFRS consolidated financial statement following the “block tagging” approach." For more information please press here.
22 August 2022
"The CySEC wishes to inform persons registered in the Certification Registers ("certified persons") that between September - December 2022 the following seventeen (17) one-day online seminars of a total duration of five (5) hours each will be organised." For more information please press here.
Market News
Bloomberg
Hong Kong key interest rate is set to reach highest since 2008
26 August 2022
"A key gauge of borrowing costs in Hong Kong is set to climb to the highest level in 14 years in coming weeks, adding a further downdraft to the city’s struggling economy." For more information please press here.
Reuters
British household energy prices to jump 80% to over $4,000 a year
26 August 2022 "British energy bills will jump 80% to an average of 3,549 pounds ($4,188) a year from October, regulator Ofgem said, calling it a "crisis" that needed to be tackled by urgent and decisive government intervention." For more information please press here.
Financial Times
India tipped to join pivotal JPMorgan bond index
26 August 2022 "JPMorgan is sounding out big investors on adding India to its widely tracked emerging-market bond index, setting the stage for tens of billions of dollars of inflows as the country’s domestic market opens up to foreign capital." For more information please press here.
Cryptocurrencies
Reuters Wire fraud: the most powerful law in crypto right now
23 August 2022
"Regulation and enforcement in the cryptocurrency space are hot topics, with the debate centered around the complex issue of whether to classify digital assets as securities, commodities, or a separate asset class entirely. In the middle of this debate, the Department of Justice ("DOJ") has sent a message — the classification does not matter for its purposes. In recent prosecutions, DOJ has used the wire fraud statute, 18 U.S.C. § 1343, a law with origins dating back to the 1800s, to bring innovative cases in the cryptocurrency space that do not depend on how a digital asset is classified." 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.
