Regulatory Alerts2025-01-10 | C677CySEC Adoption of EBA Guidelines on Resubmission of Historical Data
The Cyprus Securities and Exchange Commission has adopted the European Banking Authority Guidelines EBA/GL/2024/04, requiring Cyprus Investment Firms to correct and resubmit inaccurate historical data without undue delay. Financial institutions must resubmit affected historical data for specific look-back periods based on reporting frequency, ranging from six months to one year, while ensuring all corrections comply with validation rules. The circular outlines exemptions for data inaccuracies clarified by EBA Questions and Answers or falling within defined tolerance thresholds, while mandating the maintenance of technical capabilities for data resubmission.
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