Summary of CySEC's Circular C537
Memo #48-2022
CySEC Circular No: C537
Date: 01/12/2022
Subject: New Form CBRT-CIF, Freedom to Provide Investment Services and Activities (Cross Border Activity)
Purpose: To inform CIFs on the release of the new Form CBRT-CIF.
In Summary:
CySEC has issued the Circular C537 on 30/11/2022 to inform the Cyprus Investment Firms (‘CIFs’) on the release of the new Form, CBRT-CIF (‘the Form’), for the collection of data regarding the CIFs’ cross border provision of services to their retail clients (and clients treated as professionals on request), analysed per each Member State.
CySEC notes that all CIFs authorised by 31/12/2022 and which have at least 50 retail clients, (including clients treated as professionals on request according to Section II of Annex II of MiFID II), in at least one host Member State, are required to complete the Form.
This Form is Version 1.
The information to be collected on the CIFs’ cross border activity is for the period 01/01/2022 – 31/12/2022.
The Form must be successfully submitted electronically via the CySEC’s Transaction Reporting System (‘TRS’) by 15:00 hrs, Friday, 27/01/2023, at the latest.
The Form is regarded as having successfully been submitted to CySEC, ONLY when a NO ERROR indication feedback file is received.
CySEC further notes that the Form will be collected on an annual basis, while CIFs must always ensure that they have the latest version of the Form.
This Circular C537 refers also to the instructions for the completion of the Form, the steps that CIFs will have to follow for the successful submission of the Form and other useful information for creating and submitting the Form to the CySEC.
The Form can be found on the following link: https://www.cysec.gov.cy/legislation/services-markets/epey/notifications-forms/93570/
Read the CySEC Circular C537
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