CySec has issued a Circular to inform Cyprus Investment Frms about EBA guidelines
The Cyprus Securities and Exchange Commission (CySec) has issued a Circular in relation to the European Banking Authority ‘Revised guidelines on the further specification of the indicators of global systemic importance and their disclosure’ and wishes to inform the Cyprus Investment Firms (CIF) about the following:
1. The Central Bank of Cyprus, as the designated macroprudential authority of Cyprus pursuant to Macroprudential Oversight of Institutions Law of 2015, [Law 6(1) of 2015, ‘the Law’], has adopted the ‘Revised guidelines on the further specification of the indicators of global systemic importance and their disclosure’ (the ‘Guidelines’), issued by the European Banking Authority (EBA).
2. The Guidelines relate to:
i. the specification of the indicators for the year 2016 set out in Regulation (EU) No 1222/2014 as amended; and
ii. the reporting of the data (indicators and ancillary data used for the identification of Global systemically important institutions) and the annual disclosure of the values of the indicators.
3. The Guidelines concern only CIFs, which are subject to the Law [CIFs that are authorised to provide the investment services listed in points 3 (own account) and/or 6 (underwriting with firm commitment) of the Third Appendix, Part I of the Investment Services Law 144(I)/ 2007, as amended].
Source: CySec – eba-guidelines-on-indicators-of-global-systemic-importance
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