Regulatory Alerts2023-10-13 | C604CySEC Circular C604 on EBA Guidelines on outsourcing
The Cyprus Securities and Exchange Commission (CySEC) has adopted the European Banking Authority's Guidelines on outsourcing for Cyprus Investment Firms with specific capital requirements. The circular mandates that firms review and amend existing outsourcing arrangements, particularly for critical functions, to ensure compliance with sound risk management standards. CySEC requires firms to complete documentation for existing arrangements and report any delays in finalizing reviews by June 30, 2024.
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