CYPRUS: CySEC Circular on Risk Based Supervision Framework for Investment Firms

Wednesday January 29 2014

The Cyprus Securities and Exchange Commission (CySEC) has published Circular CI144-2014-05 for the attention of Cyprus Investment Firms, UCITS Management Companies and Administrative Services Providers (‘Regulated Entities’).

In the Circular, CySEC has announced that it is in the process of designing and developing a framework for the risk-based supervision of the Regulated Entities (RBS-F).

The new framework shall include the processes and procedures, methodology and software tools that will be used by the Commission in its supervisory role. Such processes, procedures, methodology and software tools will enable the Commission to determine its supervisory approach, by evaluating and accounting for the risks faced by each Regulated Entity.

CySEC is currently only requesting investment firms to complete the table in the Appendix and submit it to supervision@cysec.gov.cy before 3rd February 2014.

Click on the above link for more details.