Summary of CySEC's Circular C525
Memo #36-2022
CySEC Circular No: C525
Date: 12/07/2022
Subject: ESMA Guidelines on common procedures and methodologies on supervisory review and evaluation process of CCPs under Article 21 of EMIR (ESMA70-151- 3374)
Purpose: To remind the regulated entities that the ESMA has published the Guidelines on common procedures and methodologies on supervisory review and evaluation process of CCPs under Article 21 of EMIR.
In Summary:
CySEC has issued the Circular C525 on 12/07/2022 to remind the Cyprus Investment Firms (CIFs), UCITS Management Companies (UCITS MC) and Alternative Investment Fund Managers (AIFMs), that the European Securities and Markets Authority (ESMA) has published the Guidelines on common procedures and methodologies on supervisory review and evaluation process of CCPs under Article 21 of EMIR (the ‘Guidelines’) on May 10, 2022, translated in all official languages of the EU.
These Guidelines apply to national competent authorities (NCAs).
The Guidelines are applicable from 11 May 2022.
CySEC notes that these Guidelines relate to common procedures and methodologies for the supervisory review and evaluation process pursuant to Article 21 of EMIR and do not introduce new requirements for CCPs in addition to the ones specified in EMIR or the relevant RTSs.
CySEC also notes that it has adopted these Guidelines by incorporating them into its supervisory practices and regulatory approach.
The Guidelines can be found in the following link:
Read the CySEC Circular C525
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