New CIF Prudential Supervision forms under IFD/IFR

New CIF Prudential Supervision Forms under IFD/IFR

Today, CySEC released new guidance that Cyprus Investment Firms (CIF) need to follow for the submission of the prudential forms regarding the new prudential framework (IFD/IFR). CySEC’s newly introduced Prudential Supervision forms are replacing the previous forms a CIF was required to submit throughout the year.

The new regulatory framework came into force on the 26th of June 2021, and the first submissions to CySEC were made on the 11th November 2021, for Class 2 firms only. Following the first review by the regulator, CySEC decided to revise the previous forms along with the name of the forms.

In particular, Class 2 CIF are now required to submit FORM165-01 (previously FORMZZ-01) and Class 3 CIF are required to submit FORM165-02 (previously FORMZZ-02).

The naming convention is also important for all submissions and is as follows:

  • Entities reporting as Solo:
    • Excel name for FORM165-01: XX_yyyymmdd_FORM165-01
    • Excel name for FORM165-02: XX_yyyymmdd_FORM165-02
  • Entities reporting as Consolidated:
    • Excel name for FORM165-01: XX_yyyymmdd_FORM165-01C
    • Excel name for FORM165-02: XX_yyyymmdd_FORM165-02C

It is worth noting the prudential supervision forms shall be also submitted based on the audited Financial Statements by the 31st of May 2022. For this submission, the naming convention will be:

  • Entities reporting as Solo:
    • Excel name for FORM165-01: XX_yyyymmdd_FORM165-01A
    • Excel name for FORM165-02: XX_yyyymmdd_FORM165-02A
  • Entities reporting as Consolidated:
    • Excel name for FORM165-01: XX_yyyymmdd_FORM165-01CA
    • Excel name for FORM165-02: XX_yyyymmdd_FORM165-02CA

* XX – denotes the CIF unique code.

The table below illustrates the regulatory reporting dates along with the reference period:

CIF ClassType of FormReporting frequencyReference periodDeadline
Class 2Form 165-01Quarterly31 March
30 June
30 September
31 December
12 May
11 August
11 November
11 February
Class 3Form 165-02Annually31 December11 February
Class 2
Class 3
Form 165-01
Form 165-02
Annually (audited FS)31 December31 May

For more regulatory reporting obligations a CIF must meet in 2022 to comply with CySEC, please visit the SALVUS Regulatory Reporting Obligations Calendar.

Please contact us via email at [email protected] or call us at +357 7000 7898 if you would like additional information or support with meeting this reporting obligation; our Compliance team is ready.

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