CySEC and ICF grant extension for reporting deadlines

The Cyprus Securities and Exchange Commission (‘the CySEC’) on 18 April 2022, has informed the Cyprus Investment Firms (‘CIFs’) that it has extended the deadline of the below-mentioned annual obligations by one month:

1. Submission of Suitability Report (new deadline 31^st May 2022)
2. Submission of Audited Financial Statements (new deadline 31^st May 2022)
3. Payment of CySEC’s Annual Fees (new deadline 31^st May 2022)
4. Submission of Forms 165-01 and 165-02 based on the results of the Audited Financial Statements for the year ended 31.12.2021 (new deadline 30^th June 2022)
5. The external auditors’ verification report regarding Pillar III disclosures (new deadline 30^th June 2022)

In addition, the Cyprus Investors’ Compensation Fund (‘ICF’), informed CIFs that the deadline for submission of the audited statement of eligible funds and financial instruments that would otherwise have been due on 10^th May 2022 will be now on 31^st May 2022.

Due to the above extension, the invoice in regards to the annual contribution and annual fees will be communicated to CIFs in writing, no later than the 30^th of June 2022, and shall be paid by the 30^th of August 2022. A discount of 80% will be provided in relation to the ordinary annual contribution, if CIFs pay in full by the 30^th of July 2022.

Moreover, as per Paragraph 11(6)(c) of Directive 87-07, members are obliged to submit, between 15^th of May and 20^th of May of each year, the liquidity buffer confirmation. The deadline to submit this confirmation is extended for one month (i.e., now due on 15^th – 20^th June 2022).

Our team of FiveComply experts can assist you in complying and submitting in a proper and timely manner the regulatory reports imposed by the CySEC.