Risk Management and Capital Adequacy Reporting Obligations for CIFs for the year 2021

Few days away from the end of this unique year, MAP RMS would like to inform you about the upcoming Risk Management/Capital Adequacy Reporting Obligations for Cypriot Investment Firms (‘CIFs’) for the year 2021, in order to ensure that you are well prepared and ready for every challenge.

The table below presents the reporting obligations for the year 2021 with respect to the prudential supervision reporting requirements for investment firms to Cyprus Securities and Exchange Commission (‘CySEC’), Central Bank of Cyprus (‘CBC’) and Market Participants.

Category

Reporting Obligations

Deadline

Description

Pillar I

 

(solo & consolidated)

Unaudited CoRep Forms for the period up to 31 December 2020

11 February 2021

Submission to CySEC via TRS system of the solo/consolidated CoRep Forms (excel files) for the respective periods.

 

As regards the submissions for the periods 30 June 2021 and 30 September 2021, further regulatory technical standards and guidelines are expected since the new prudential regulatory framework (IFR/IFD) is expected to enter into force on 26 June 2021.

 

 

 

CoRep Forms for the period up to 31 March 2021

12 May 2021

Audited CoRep Forms for the period up to 31 December 2020

31 May 2021

CoRep Forms for the period up to 30 June 2021

11 August 2021

CoRep Forms for the period up to 30 September 2021

11 November 2021

Pillar II

ICAAP Report and Manual

Upon Request

Preparation of the ICAAP Report, Manual and Board of Director Minutes for the fulfilment of the Pillar II obligation.

Pillar III

Annual Pillar III Disclosures Report for the year 2020

30 April 2021

Preparation based on the solo/consolidated Audited Financial Statements 2020 and upload it on the CIF’s website(s).

External Auditor’s Verification report on Pillar III Disclosures for the year 2020

31 May 2021

Submission to CySEC via portal of the Verification report on Pillar III Disclosures Report for the year 2020.

Risk Manager’s Annual Report

Annual Report of the Risk Manager for the year 2020

30 April 2021

Preparation and Submission to the Board of Directors based on the 2020 Audited Financial Statements. The Report should be submitted to CySEC together with the minutes of the said Board meeting the latest by the end of April 2021.

Resolution Plans

Resolution Reporting Templates

30 April 2021

Submission to CBC based on the 2020 Audited Financial Statements, the resolution templates in XBRL format and the required additional information in excel format via EDX platform of the CBC.

Prudential Supervision

Form 144-14-11

31 May 2021

Submission to CySEC based on the 2020 Audited Financial statements and the latest available ICAAP.

Financial Reports

 

(solo & consolidated)

Audited Financial Statements for the year 2020

30 April 2021

Submission to CySEC’s portal and to the statistics department of CBC.

Country-by-Country Reporting

30 April 2021

CIFs are required to disclose annually consolidated information by member state and by third country in which it has an establishment, as an annex to the annual financial statements.

Recovery Plan

Form 20-01

(Simplified obligations)

The next submission deadline for CIFs that are subject to simplified obligations, is 30 September 2022.

Form 20-01

(Full scope obligations)

&

Solo Recovery Plan

30 June 2021

Submission to CySEC via email of the Form 20-01 and the Recovery plan document based on the 2020 Audited Financial statements, for CIFs that falls under full scope obligations.

Please contact us at info@maprms.com for more information or in case you need any assistance with respect to any of the above reporting obligations.