ARTICLE
23 May 2016

CySEC Risk Based Supervision Framework – Electronic Submission Of Information For The Year 2015

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Elias Neocleous & Co LLC

Contributor

Elias Neocleous & Co LLC is the largest law firm in Cyprus and a leading firm in the South-East Mediterranean region, with a network of offices across Cyprus (Limassol, Nicosia, Paphos), Belgium (Brussels), Czech Republic (Prague), Romania (Budapest) and Ukraine (Kiev). A dynamic team of lawyers and legal experts deliver strategic legal solutions to clients operating in key industries across Europe, Asia, the Middle East, India, USA, South America, and China. The firm is renowned for its expertise and jurisdictional knowledge across a broad spectrum of practice areas, spanning all major transactional and market disciplines, while also managing the largest and most challenging cross-border assignments. It is a premier practice of choice for leading Cypriot banks and financial institutions, preeminent foreign commercial and development banks, multinational corporations, global technology firms, international law firms, private equity funds, credit agencies, and asset managers.
In 2014 the Cyprus Securities and Exchange Commission introduced a risk-based supervision framework for Cyprus Investment Firms, UCITS management companies...
Cyprus Wealth Management

In 2014 the Cyprus Securities and Exchange Commission introduced a risk-based supervision framework for Cyprus Investment Firms, UCITS management companies, alternative investment fund managers and self-managed alternative investment funds.

These entities are now required to submit the financial and other information required under the risk-based supervision framework in respect of the year 2015 using the appropriate reporting package, which is available on CySEC's website. The requirement applies to all regulated entities that were authorised and operating at 31 December 2015: entities that were authorised by 31 December but that had not made use of their authorisation are not required to submit information.

The reporting package must be completed in respect of the calendar year 2015, using 31 December 2015 as the reference date, and submitted via CySEC's electronic transaction reporting system no later than 10 June 2016. The data reported must be based on audited financial statements. Penalties may be imposed on entities which fail to report within the prescribed time.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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