CYPRUS: CySEC launches Digital Depositary Portal

Friday July 15 2016

The Cyprus Securities and Exchange Commission (CySEC) has launched a new Web Portal, to be utilised as a digital depository by its regulated entities and groups. The Web Portal will store important forms, letters and signed documents, which have been provided to the commission and additionally help mitigate the storage costs incurred by physical documentation.

Through the Web Portal, CySEC intends to streamline overall bureaucratic processes and improve oversight and security with regard to the handling of sensitive documentation and correspondences.

The Portal does not replace the existing TRS system, which will continue to allow firms to submit their documentation and forms as outlined in various circulars. However, CySEC does intend to incorporate the TRS system into the Portal so that regulated entities can, through one integrated system, make and access all their document submissions in future.

The Portal is initially accessible by Cyprus Investment Firms (‘CIFs’) only. However, access will be expanded to the other Regulated Entities soon. CySEC has included directions for using the Web Portal on their announcement for CIFs.

For more information, please click the link at the top of the page.