Home / Regulatory Developments / Risk Based Supervision Framework (‘RBS-F’) – electronic submission of information for 2019

Risk Based Supervision Framework (‘RBS-F’) – electronic submission of information for 2019

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:

  • A new version of the form, RBSF-MC Version 3 (“the Form”), is issued for the collection of statistical information on an annual basis;
  • All Regulated Entities that were authorised by 31st December 2019 must submit the Form;
  • The Form must be submitted via the CySEC (‘TRS’) system by Friday, 24 July 2020 the latest.


Changes from the previous version of the RBS-F Form:

Section E: for the completion of Section E (Income Statement and Statement of Financial Position), unaudited financial statements can be used, in case the audited are not available;

Section L: for the completion of section L (Countries and Geographical Areas), the country of residence should be used, instead of the country of origin;

Section C.1:  Four (4) additional questions are added:

  • Question 1: Does the entity manage UCIs, which promote the social responsible character of the UCIs, or the social responsible investment objectives of the UCIs, either in the name of the UCIs, or in the marketing materials, or the Key Investors Information documents?
  • Question 2: If the answer in question 4.1is Yes, state the name of the UCIs;
  • Question 3: If the answer in question 4.1is Yes, give a short description of the social responsible policy;
  • Question 4: Provide the percentage (%) of AuM invested in sustainable investments as at the reference date, of all the UCIs that are managed;

Section G: Three (3) additional questions are added:

  • Question 1: What type of company is the sub-depositary company (i.e. credit institution, Investment Company, etc.)?
  • Question 2: What is the maximum number of levels in the custody chain regarding the UCIs under the management of the company (i.e. depositary constitute the first level of the custody chain. If the depositary has delegated the custody function to third parties, then the third party constitutes the second level in the custody chain etc.).
  • Question 3: Provide the breakdown of AuM based on the type of company acting as depositary to the UCIs under management (the breakdown must be provided in %).

Section M: Marketing – Entirely new section:

  • In Question 1, the Regulated Entities are requested to report if they market the units of UCIs abroad and provide details about the % of the NAV and the number of unitholders resident in other EU member States, in third countries and in Cyprus. Additionally, the Regulated Entities must report if they market the units of UCIs through a branch or branches, established abroad and provide details about the percentage (%) of the NAV and the number of unit holders, resident abroad;
  • In Question 2, the Regulated Entities are requested to report if they provide the services set out in article 109(4) of the UCI Law of 2012 or article 6(6) of the AIFM Law of 2013, in other EU Member states, in third countries and in Cyprus. In addition, the Regulated Entities should provide information about the clients’ assets and the number of investors in other EU Member states, in third countries and in Cyprus;
  • Finally, the Regulated Entities must respond if they provide these services through a branch established abroad and provide details about the clients’ assets and the number of investors resident abroad;

Before submitting the Form, Regulated Entitied shall make sure that all validation tests that are contained in the Form are marked TRUE.

In case of any queries regarding the completion or submission of the RBSF – MC Form you may contact us on info@mnkriskconsulting.com.

Top