Home / Regulatory Developments / Circular C225 (“the Circular”) dated 18.07.17 regarding the supplementary data collection exercise by the European Banking Authority (“EBA”) to support the new prudential framework for investment firms

Circular C225 (“the Circular”) dated 18.07.17 regarding the supplementary data collection exercise by the European Banking Authority (“EBA”) to support the new prudential framework for investment firms

Through the Circular, CySEC informs the Regulated Entities regarding the a supplementary data collection launched by the EBA on 06.07.17, which is aimed at supporting the response to the EU Commission’s Call for Advice on the new prudential framework for investment firms.

This exercise follows up on the first data collection launched on 15.07.16 and the EBA Discussion Paper published on 04.11.16, in which the EBA consulted on its proposals for developing a new prudential framework. In light of the feedback received in the consultation and the additional analysis undertaken, many valuable improvements have been made to the initial proposals. As a result, the EBA considers necessary to launch a supplementary data collection to support the final calibration and impact assessment of the new framework.

CySEC’s expects that: In case (i.e. this data collection exercise is not compulsory) the Cyprus Investment Firms (“the CIFs”) wish to participate in the data collection exercise, they should use the templates and instructions provided by the EBA for the purpose of the said data collection (please follow this hyperlink). Particularly, CIFs may fill in and submit the relevant template(s) at the electronic address supervision@cysec.gov.cy by 03.08.17, quoting at the email subject the “(Name of the CIF) – EBA data collection”. CySEC shall then forward the data to the EBA. CIFs shall name their Excel File in accordance to the following naming convention: “TRS Username_YYYYMMDD_EBA Data Collection MiFID Ifs_(Solo/Consolidated)”. For example, in case of a hypothetical CIF with a TRS Username “XX” and assuming that:

  • it reports on a solo basis,
  • its end of year reporting period is set as at 31.12.15,

then the Excel File to be submitted should be saved as “XX_20151231_ EBA Data Collection MiFID IFs Solo”

It shall be noted that, where CIFs report on a consolidated basis, they shall also submit a separate file on a solo basis. In case of any queries on the completion of the relevant EBA excel template, please send an email to supervision@cysec.gov.cy. However, CIFs are kindly requested to go through the relevant instructions document first, before submitting any queries.

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