🚩 Attention to Cyprus Investment Firms (CIFs) 📣 CySEC informs that it has adopted the EBA Guidelines on the application of the group capital test for investment firm groups in accordance with Article 8 of Regulation (EU) 2033/2019 [IFR] by incorporating them into its supervisory practices and regulatory approach. 📍 The Guidelines apply from 01/01/2025. Read More 👇 https://lnkd.in/gdphhc_w #cyprusinvestment #CIF #EBA #guidelines #reporting #supervision #Cyprus #investments
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🚩 Attention to Cyprus Investment Firms (CIFs) 📣 CySEC published the revised Form 87-03-01 for the calculation of their annual fees. The Form 87-03-01 must be submitted to CySEC through the Portal along with the: • The extract from the audited financial statements where the total turnover of the corresponding year (2023) is disclosed. • Evidence of the payment of the annual fees to the CySEC. 📍 Deadline for the submission of the Form 87-03-01 is by 30 April the latest, of each financial year. Read more 👇 https://lnkd.in/dmsaKjhu #cif #Cyprus #investmentfirms #annualfees #obligation
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🚩 Attention to Cyprus Investment Firms (CIFs) 📣 CySEC announced that the deadline of the submission of the Form QST-CIF for Q1 2024 that in accordance with Circular C625 it was on 06/05/2024, is extended to 08/05/2024 in accordance with Circular C636 issued on 22/04/2024. Read More 👇 https://lnkd.in/d-er2eqg #Cyprus #investmentfirms #reporting #quarterly #statistics #cif
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📢 Important Announcement for Cyprus Investment Firms (CIFs) 📢 The Cyprus Securities and Exchange Commission (CySEC) has issued a reminder regarding prudential reporting requirements based on audited financial statements. According to Regulation (EU) 2021/2284, CIFs may initially submit unaudited figures. However, if audited figures deviate from the submitted ones, CIFs must promptly submit revised, audited figures to CySEC. This submission, made via the CySEC XBRL portal, should reflect the last day of the previous financial year and be completed no later than five months after year-end. CIFs are advised to use the comment section to indicate "Based on Audited Figures 31/12/XXXX". Deadline for submissions is from April 1st to May 31st annually. #CySEC #FinancialReporting #CIFs #Compliance Feel free to contact us for any professional assistance: ☎️ +357 96 334 123 📧: info@apapageorgiou.com 💻: www.apapageorgiou.com #APLawFirm #APLawFirm #Advocates #LegalConsultants #FintechAdvisors #RegulatoryComplianceConsultancy #CorporateServices #LegalServices #CyprusLawyers
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🚩 Attention to Cyprus Investment Firms (CIFs) 📣 CySEC issued the Circular C661 to inform the CIFs for their reporting obligation to submit the Form QST-CIF, Version 14, for Q3 2024. 📍 Deadline for submission is by 04/11/2024, at the latest. Read More 👇 https://lnkd.in/dT2bivpZ #cyprusinvestments #reporting #quarterly #CIFs #investmentfirm
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📢 Cyprus Securities and Exchange Commission (CySEC) is launching a thematic review to enhance the management of clients' uninvested funds by Cyprus Investment Firms (CIFs). This initiative aims to ensure full regulatory compliance and bolster investor protection. The review will focus on: 🔍 Methods and arrangements used by CIFs 📄 Information and terms provided to clients ✅ Regulatory adherence and controls Selected CIFs will soon receive a questionnaire to complete and return with supporting documents. For professional services and legal advice, please contact us: ☎️ +357 96334123 📧: info@apapageorgiou.com 💻: www.apapageorgiou.com #APLAwFirm #Legalservices #CorporateServices #RegulatoryAdvisory #LicensingServices #CySEC #Investment #InvestorProtection #Regulation #Compliance
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🚨𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐔𝐩𝐝𝐚𝐭𝐞 𝐟𝐫𝐨𝐦 𝐂𝐲𝐒𝐄𝐂 𝐟𝐨𝐫 𝐂𝐈𝐅𝐬 𝐭𝐡𝐚𝐭 𝐚𝐫𝐞 𝐬𝐮𝐛𝐣𝐞𝐜𝐭 𝐭𝐨 𝐩𝐫𝐮𝐝𝐞𝐧𝐭𝐢𝐚𝐥 𝐜𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧🚨 The CySEC - Cyprus Securities and Exchange Commission issued Circular C644 announcing a new regulatory requirement for Cyprus Investment Firms (CIFs) that fall under the scope of prudential consolidation by CySEC. Specifically, CySEC has introduced Form 165-05 to collect essential information from entities within investment firm groups, as part of CySEC’s supervisory role outlined in EU Regulation 2019/2033 ("IFR") and the Prudential Supervision of Investment Firms Law (Law 165(I)/2021). Form 165-05 applies to all CIFs defined as investment firm groups under Article 4(1)(25) of IFR and subject to prudential consolidation by CySEC according to Articles 7 or 8 of the IFR. The form requires the following information: ➡️General information about the CIF ➡️Key information on group entity/branch ➡️Concentrations of group entity/branch to counterparties and clients ➡️Contribution of group entity/branch in consolidated situation of investment firm group The form is available under the ‘Forms’ section on CySEC’s website. CIFs must submit Form 165-05 annually via TRS by 31st May each year. See circular here -> https://lnkd.in/gKdi4QZe 🗓️ Submission Deadline for 2023 Data: For the year ending 31 December 2023, CIFs must submit Form 165-05 via TRS between 25 June and 30 June 2024. Please do not hesitate to contact us if you require further information or assistance with the preparation of the new Form. #CySEC #Compliance #Regulation #InvestmentFirms #PrudentialSupervision #IFR #TRS #consolidation
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𝐓𝐡𝐞 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐂𝐞𝐧𝐭𝐫𝐞 𝐟𝐨𝐫 𝐒𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭 𝐨𝐟 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐃𝐢𝐬𝐩𝐮𝐭𝐞𝐬 (𝐈𝐂𝐒𝐈𝐃 𝐨𝐫 𝐭𝐡𝐞 𝐂𝐞𝐧𝐭𝐫𝐞) 𝐂𝐨𝐧𝐯𝐞𝐧𝐭𝐢𝐨𝐧 - ☘️ The International Centre for Settlement of Investment Disputes (ICSID or the Centre) is established by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention or the Convention). ☘️The Convention was formulated by the Executive Directors of the International Bank for Reconstruction and Development (the World Bank). On March 18, 1965, the Executive Directors submitted the Convention, with an accompanying Report, to member governments of the World Bank for their consideration of the Convention, with a view to its signature and ratification. ☘️The Convention entered into force on October 14, 1966, when it had been ratified by 20 countries. In accordance with the provisions of the Convention, ICSID provides facilities for conciliation and arbitration of investment disputes between Contracting States and nationals of other Contracting States. The provisions of the ICSID Convention are complemented by Regulations and Rules adopted by the Administrative Council of the Centre pursuant to Article 6(1)(a)–(c) of the Convention (the ICSID Regulations and Rules). ☘️The ICSID Regulations and Rules comprise the ICSID Administrative and Financial Regulations; the ICSID Institution Rules; the ICSID Conciliation Rules; and the ICSID Arbitration Rules. The latest amendments of the ICSID Regulations and Rules adopted by the Administrative Council of the Centre came into effect on July 1, 2022. ☘️Reprinted in this booklet are the ICSID Convention, the Report of the Executive Directors of the World Bank on the Convention, and the ICSID Regulations and Rules as amended effective July 1, 2022 #icsid #rules #regulation #worldbank #report #amendments #adroit #adr #arbitration #convention #middleeast #uae
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☘️Reprinted in this booklet are the ICSID Convention, the Report of the Executive Directors of the World Bank on the Convention, and the ICSID Regulations and Rules as amended effective July 1, 2022
𝐓𝐡𝐞 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐂𝐞𝐧𝐭𝐫𝐞 𝐟𝐨𝐫 𝐒𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭 𝐨𝐟 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐃𝐢𝐬𝐩𝐮𝐭𝐞𝐬 (𝐈𝐂𝐒𝐈𝐃 𝐨𝐫 𝐭𝐡𝐞 𝐂𝐞𝐧𝐭𝐫𝐞) 𝐂𝐨𝐧𝐯𝐞𝐧𝐭𝐢𝐨𝐧 - ☘️ The International Centre for Settlement of Investment Disputes (ICSID or the Centre) is established by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention or the Convention). ☘️The Convention was formulated by the Executive Directors of the International Bank for Reconstruction and Development (the World Bank). On March 18, 1965, the Executive Directors submitted the Convention, with an accompanying Report, to member governments of the World Bank for their consideration of the Convention, with a view to its signature and ratification. ☘️The Convention entered into force on October 14, 1966, when it had been ratified by 20 countries. In accordance with the provisions of the Convention, ICSID provides facilities for conciliation and arbitration of investment disputes between Contracting States and nationals of other Contracting States. The provisions of the ICSID Convention are complemented by Regulations and Rules adopted by the Administrative Council of the Centre pursuant to Article 6(1)(a)–(c) of the Convention (the ICSID Regulations and Rules). ☘️The ICSID Regulations and Rules comprise the ICSID Administrative and Financial Regulations; the ICSID Institution Rules; the ICSID Conciliation Rules; and the ICSID Arbitration Rules. The latest amendments of the ICSID Regulations and Rules adopted by the Administrative Council of the Centre came into effect on July 1, 2022. ☘️Reprinted in this booklet are the ICSID Convention, the Report of the Executive Directors of the World Bank on the Convention, and the ICSID Regulations and Rules as amended effective July 1, 2022 #icsid #rules #regulation #worldbank #report #amendments #adroit #adr #arbitration #convention #middleeast #uae
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On the 12th of June, the Cyprus Securities and Exchange Commission (CySEC) informs all Cyprus Investment Firms (CIF) that are subject to prudential consolidation through the release of Circular C644, on the introduction of a new reporting obligation for the submission of Form 165-05 for reporting year 2023. CIF regulated entities are required to submit the 165-05 Form electronically via CySEC’s Transaction Reporting System (TRS), at the latest by 30 June 2024, specifically between 25 and 30 June 2024. From 2025 and onwards CIF entities subject to prudential consolidation will be required to submit the form by 31st May each year concerning the previous year. With regard to the naming convention {TRS username} _yyyymmdd_Form165-05, the yyyymmdd means the due date for submission. 📩Contact us at info@apccompliance.net., if you would like to know more information about regulatory reporting obligations.
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CySEC Introduces New Form 165-05 for “Prudential Consolidation Information” Cyprus Securities and Exchange Commission (CySEC) announces the introduction of Form 165-05. This form is intended to collect prudential consolidation information, enhancing our supervisory role under EU Regulation 2019/2033 (IFR) and the Prudential Supervision of Investment Firms Law (Law 165(I)/2021). Key points from the Circular No. C644 include: 1. Objective: To facilitate CySEC’s supervisory duties as the consolidating supervisor. 2. Applicable Firms: All Cyprus Investment Firms (CIFs) that fall under the definition of an investment firm group and are subject to prudential consolidation by CySEC. 3. Submission Guidelines: - The form is available on CySEC’s website under the 'Forms' section. - CIFs must submit this form annually via the Transaction Reporting System (TRS) by May 31st. - For the year ending 31.12.2023, submissions should be made between 25th - 30th June 2024. For further insights, reach out to our team of experts: 00357 25 34 00 25 info@fivecomply.com fivecomply.com #CySEC #InvestmentFirm #Regulation #Compliance #PrudentialConsolidation #Finance #Cyprus #FinancialRegulation #Investment #CorporateCompliance #Supervision #RegulatoryCompliance #ComplianceExcellence #FiveComply
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