Regulatory Alerts2024-02-06
CySEC Circular C620: Adoption of EBA Guidelines on Intermediate EU Undertakings
The Cyprus Securities and Exchange Commission (CySEC) has adopted the European Banking Authority’s guidelines regarding the monitoring of thresholds and procedural aspects for establishing intermediate EU parent undertakings under Article 21b of Directive 2013/36/EU. This regulatory measure applies to Cyprus Investment Firms belonging to third-country groups with a combined total value of assets in the Union equal to or greater than EUR 40 billion. These firms are required to submit quarterly reports via the CySEC XBRL portal, starting from December 31, 2023, detailing their asset assessments and consolidated financial data to ensure consistent supervisory application.
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