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September 3, 2020

Preparation and Submission of Recovery Plans by CIFs

September 3, 2020
In February 2020, the Cyprus Securities and Exchange Commission (CySEC) issued Circular C351 which introduces the Recovery Plan requirements for CIFs that fall within the scope of section 10(1) of the Investment Services Law. The Recovery Plan aims to identify and prepare the actions which may be taken by a CIF to recover its financial...
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Capital Requirements Directive IV

September 3, 2020
Basel III aims to considerably increase both the quality and quantity of capital of credit institutions and investment firms with the ultimate aim of improving loss-absorption capacity in both going concern and liquidation scenarios. It also intends to reduce systemic risk. The implementation of Basel III in Europe occurred via CRD IV, which is divided...
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Bank Recovery and Resolution Directive

September 3, 2020
The EU Bank Recovery and Resolution Directive 2014/59/EU (“BRRD”) of the European Parliament and Council of 15 May 2014 establishes a framework for recovery and resolution of credit institutions and large investment firms (required to hold initial capital of at least Euro 730,000). Its scope of application also includes EU-based parent and intermediate financial holding companies, as...
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