Few days away from the end of 2021, MAP RMS would like to inform you about the upcoming Prudential Reporting Obligations for Cypriot Investment Firms (‘CIFs’) for the year 2022, in order to ensure that you are well prepared and ready for every challenge.
The table below presents the reporting obligations for the year 2022 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 Obligation |
Deadline |
Description |
|
Pillar I
(solo & consolidated) |
Unaudited CoRep Forms ZZ-01 and ZZ-02 for the period up to 31 December 2021 |
11 February 2022 |
Submission to CySEC via TRS system of the solo/consolidated CoRep Form ZZ-01 for Class 2 Investment Firms and CoRep Form ZZ-02 for Class 3 Investment Firms.
|
|
CoRep Form ZZ-01 for the period up to 31 March 2022 |
12 May 2022 |
||
|
Audited CoRep Forms ZZ-01 and ZZ-02 for the period up to 31 December 2021 |
31 May 2022 |
||
|
CoRep Form ZZ-01 for the period up to 30 June 2022 |
11 August 2022 |
||
|
CoRep Form ZZ-01 for the period up to 30 September 2022 |
11 November 2022 |
||
|
Pillar II |
Internal Capital Adequacy and Risk Assessment (ICARA) Process Report |
Upon Request |
Preparation of the ICARA Report and Board of Director Minutes for the fulfilment of the Pillar II obligation as per the provisions of Part A of Chapter 2 of the Law 165(I)/2021. |
|
Pillar III |
Annual Pillar III Disclosures Report for the year 2021 |
30 April 2022 |
Preparation of the market discipline report as per the provisions of Part Six of the IFR based on the solo/consolidated Audited Financial Statements 2021 and upload it on the CIF’s website(s). |
|
External Auditor’s Verification report on Pillar III Disclosures for the year 2021 |
31 May 2022 |
Submission to CySEC via portal of the Verification report on Pillar III Disclosures Report for the year 2021. |
|
|
Risk Manager’s Annual Report |
Annual Report of the Risk Manager for the year 2021 |
30 April 2022 |
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 2022. |
|
Resolution Plans |
Resolution Reporting Templates |
30 April 2022 |
Submission to CBC based on the 2021 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 2022 |
Submission to CySEC based on the 2021 Audited Financial statements and the latest available ICAAP/ICARA. |
|
Financial Reports
(solo & consolidated) |
Audited Financial Statements for the year 2021 |
30 April 2022 |
Submission to CySEC’s via portal and to the statistics department of CBC. |
|
Country-by-Country Reporting |
30 April 2022 |
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) |
– |
CIFs that are subject to simplified obligations are required to submit the Form 20-01 by 30 September 2022. |
|
Form 20-01 (Full scope obligations) & Solo Recovery Plan |
30 June 2022 |
Submission to CySEC via email of the Form 20-01 and the Recovery plan document based on the 2021 Audited Financial statements, for CIFs that falls under full scope obligations. |
Following the implementation of the new prudential regulatory framework on the 26th of June 2021, further guidance and updated reporting templates are expected to be released with respect to the prudential supervision Form 144-14-11, recovery plan Form 20-01 and resolution plan reports.
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.