Summary of CySEC's Circular C382

Memo #30-2020

  CySEC Circular No: C382
   Date: 16/04/2020

Subject: Regulation (EU) 2015/2365 on transparency of securities financing transactions and of reuse (‘SFTR’) – reporting obligation related to securities financing transactions (‘SFTs’)
Purpose: To draw the attention of Regulated Entities to SFTR and the implementation of SFT reporting requirements.

In Summary:
CySEC has issued the Circular C382 on 16/04/2020 in order to draw the attention of Regulated Entities to the following points related to Regulation (EU) 2015/2365 on transparency of securities financing transactions and of reuse (‘SFTR’) and reporting obligation related to securities financing transactions (‘SFTs’):

1. Regulated Entities are advised to take all necessary actions, during the period of postponement of reporting, in order to ensure that they will establish, implement and maintain the necessary policies and procedures, including completion of the technical set up that will enable them to implement the SFT reporting requirements, by the reporting start date (i.e. in case of CIFs, by 13 July 2020).

2.CySEC requests the CIFs to fill a Form (excel form) that can be found as Appendix on this Circular C382 and submit it to CySEC via email, the latest by  Friday 29 May 2020. The purpose of this Form is for the collection of information on the impact of SFTR to the Cyprus market.

Details for the submission of this Form are referred on this Circular C382.

This Circular C382 is issued following the CySEC’s Circular C346 issued on 07/01/2020 (Regulation (EU) 2015/2365 on transparency of securities financing transactions and of reuse - Reporting obligation provisions) and Circular C366 issued on 19/03/2020 (Regulation (EU) 2015/2365 on transparency of securities financing transactions and of reuse (‘SFTR’) – Postponement of the reporting obligation related to securities financing transactions (‘SFTs’)), relating to SFTR.

Read the CySEC Circular C382

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