CySEC Circulars regarding Brexit
On 24th June CySEC has issued the Circular C140 that comprises of two parts. The CySEC requires from the investment firms to inform CySEC on the effects that brexit has on their activities, including any contingent liability.
Every investment firm must calculate their own funds and capital adequacy ratio and inform CySEC accordingly. The investment firms should submit the above information by COB (close of business) at the electronic address: email@example.com. The first part of the Circular 140 is available here.
The second part of the Circulat C140 clarifies the parameters of the required information and amends the deadline for submitting the information:
- The reference date that the investment firms should use is Friday, 24th of June, 2016, 12:00 midnight.
- The date of the submission of the information requested in Circular 140, is amended to Tuesday, 28th of June, 2016, COB (close of business).
The text of the second part of Circular C140 is available here.