New CIF Reporting Obligation Form 165-05 Prudential Consolidation Information to CySEC

New Reporting Obligation Introduced: On June 12th, CySEC issued Circular C644, which introduces Form 165-05 for CIFs subject to prudential consolidation. This form is a critical component of the new reporting requirements set for the 2023 reporting year.

Submission Details: CIFs are required to submit Form 165-05 electronically through CySEC’s Transaction Reporting System (TRS). The initial submission deadline is set for no later than June 30, 2024, specifically during the window from June 25 to June 30, 2024.

Future Submission Requirements: Starting from 2025, CIF entities under prudential consolidation will need to submit the form annually by May 31st for the previous year.

Purpose of Form 165-05: The introduction of Form 165-05 aims to collect essential data from entities within investment firm groups that are consolidated under CySEC. This information will enhance CySEC’s ability to perform its supervisory functions effectively as the consolidating supervisor, in line with EU Directive 2019/2034.

Data Reporting Specifications: When completing Form 165-05, it is required that all data be reported in euros and rounded to the nearest unit.

Naming Convention for Submission: The submission must follow the naming convention: {TRS username}_yyyymmdd_Form165-05, where "yyyymmdd" represents the submission's due date.

Additional Information for 2024: CIFs should also be aware of other regulatory reporting obligations that will need to be met in 2024, particularly those involving AIFM entities.

For Cyprus Investment Firms, compliance with these new requirements is crucial. At CJ Solutions Ltd., we stand ready to assist with navigating these changes, ensuring full compliance with CySEC regulations and helping firms maintain their operational integrity within the EU's legal framework.

For further assistance or inquiries regarding these new obligations, please contact us @info@cjsolutionsltd.com We are here to provide comprehensive support tailored to your specific compliance needs. New CIF Reporting Obligation Form 165-05 Prudential Con