Date: 5th August 2020 The United Kingdom (“UK”) formally left the European Union (“EU”) on the 1st of February 2020. Currently, a transition period is in place until the 31st of December 2020, during which all EU rules and laws will continue to apply to the UK. The UK and the EU are negotiating their new relationship on the terms on which companies in the...Read More
Brexit: Implications for Asset Managers Date: 30th July 2020 The United Kingdom (“UK”) as of the 1st February 2020, has officially withdrawn from the European Union (“EU”). Currently, EU Law still applies in its entirety to the UK. However, by the end of the year 2020 (the “transition period”) the EU and the UK shall negotiate and reach an agreement for a new partnership. After...Read More
Date: 2nd July 2020 Subject: Circular C392 (“the Circular”) dated 23.06.20 regarding the Risk Based Supervision Framework (‘RBS-F’) – electronic submission of information for 2019. To whom it concerns: Alternative Investment Funds (AIFs) and Alternative Investment Funds with Limited Number of Persons (AIFLNPs); Alternative Investment Fund Managers (AIFMs); UCITS and UCITS Management Companies. CySEC through Circular C392, wishes to inform Regulated Entities about the following:...Read More
In light of the ‘New prudential framework for investment firms’, and the related Practical Guide issued by CySEC on March 6, 2020, the European Banking Authority (“EBA”) has a mandate to develop the ‘new’ reporting requirements for IFs, in terms of own funds, levels of minimum capital, concentration risk, liquidity requirements, level of activity in respect of small and non-interconnected Ifs and the other reporting...Read More
ESMA objective: To promote consistency and increase the frequency of current LST practices while also enhancing the existing LST standards. When: On the 30th September 2020 the new ESMA’s Liquidity Stress Testing Guidelines (“the Guidelines”) will take effect. Competent authorities shall be incorporating these Guidelines into their national legal and supervisory frameworks as appropriate. To whom it applies: Alternative Investment Funds (AIFs); Undertakings for the...Read More
