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2023-12-01 | C606

CySEC Circular C606 on EBA Guidelines for Exempting Investment Firms from Liquidity Requirements

The Cyprus Securities and Exchange Commission issued Circular C606 to inform Cyprus Investment Firms that it has adopted the EBA Guidelines regarding exemptions from liquidity requirements under Regulation (EU) 2019/2033. These guidelines specify the criteria competent authorities may consider when exempting Class 3 investment firms from the liquidity obligations set forth in Article 43 of the IFR. The circular confirms that these standards became applicable on 28 November 2022 and are now binding for local regulatory oversight.

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TO : Cyprus Investment Firms (CIFs) FROM : Cyprus Securities and Exchange Commission DATE : 1 st December 2023 CIRCULAR NO. : C606 SUBJECT : EBA Guidelines on the criteria for the exemption of investment firms from liquidity requirements in accordance with Article 43(4) of Regulation (EU) 2019/2033 (EBA/GL/2022/10)

  1. The Cyprus Securities and Exchange Commission (the “CySEC”) wishes to bring to the attention of the Cyprus Investment Firms (the “CIFs”) the EBA Guidelines on the criteria for the exemption of investment firms from liquidity requirements in accordance with Article 43(4) of Regulation (EU) 2019/2033 (EBA/GL/2022/10) (the ‘Guidelines”). These Guidelines are applicable from 28.11.2022.
  2. CySEC has adopted the Guidelines, under Article 43(4) of the Regulation (EU) 2019/2033 (the “IFR”).
  3. The Guidelines specify the criteria which competent authorities may take into account when exempting investment firms referred to in Article 12(1) of Regulation (EU) 2019/2033 (i.e. Class 3 CIFs) from liquidity requirements in accordance with Article 43 of Regulation (EU) 2019/2033. Sincerely, George Karatzias Vice Chairman Cyprus Securities and Exchange Commission
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