CySEC – New Obligation ‘FPISA-CIF’ Freedom of Cross Border ActivitySalvus Team
On the 28th of September 2020, the Cyprus Securities and Exchange Commission (CySEC) issued Circular C408, where an additional regulatory reporting is requested by the regulator. As the submission of this form is due in approximately two weeks time, the deadline is considered tight. At SALVUS we are already processing the request for clients and partners.
CySEC requests the completion of Form ‘FPISA-CIF’ for the collection of data on the Cyprus Investment Firms (CIFs) cross border activity.
The collection of data shall include the period 01/01/2019 – 31/12/2019.
The Form must be completed and submitted to CySEC by ALL CIFs that were authorised by 31st December 2019.
The deadline for this new regulatory reporting is due on the 16th of October 2020 at 15:00.
It is worth noting, that the regulator notifies that a failure to promptly and duly comply with the requirements, will bear the administrative penalties of section 37(5) of the CySEC Law. It is further noted that CySEC will not send any reminders to those who fail to promptly and duly comply.
Talk to us. We will be glad to support you to complete this new regulatory obligation and meet this tight deadline or answer any of your questions.