Regulatory Alerts2001-12-10
Added · Updated
Circular D4/EB/2001/3 Electronic Transmission of Financial Data - Modifications to Reporting
The Commission bancaire et financière mandates that securities firms transmit accounting and financial data electronically, requiring full adoption by March 31, 2002, for reports due in April 2002. The circular updates reporting tables to reflect changes in capital adequacy rules, specifically modifying risk coverage requirements for exchange and base products and limiting derivative risk calculations to market value methods. Additionally, the reporting framework for deferred settlement transactions is expanded to cover all such trades initiated by order givers, while the appendix for forward operations is abolished. Firms must use structured text files, optionally utilizing the provided 'Reporting CBF' software for validation, and retain signed copies of all transmitted reports.
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