CySEC QST Form for CIF and ASP in Q4 – December 2024
The Cyprus Securities and Exchange Commission (CySEC) issued Circulars C670 and C671 to inform Administrative Service Providers (ASP) and Cyprus Investment Firms (CIF), respectively, on the submission of the QST Form regarding the fourth quarter of 2024.
All ASP and CIF regulated entities are required to complete and submit the latest versions of the QST Forms, via the CySEC Transaction Reporting System (TRS) on the below corresponding revised deadlines:
| Regulated entity | Deadline | Form version | Naming convention |
|---|---|---|---|
| ASP | 31st of January | QST-ASP Version 8 | Username_yyyymmdd_QST-ASP |
| CIF | 3rd of February | QST-CIF Version 15 | Username_yyyymmdd_QST-CIF |
It is important to note that the definition of a client varies throughout the QST-CIF Form. CIF regulated entities shall pay close attention to the instructions provided at the beginning of the form and in its various sections.
Moreover, in this new version of the form QST-CIF new points and new sections have now been added. These new points/sections refer to data that was previously collected through the form RBSF-CIF.
Specifically, on Part I, new points have been added about information regarding Volume of Transactions under Dealing on Own Account. Additionally, due to the new sections added the form has been divided into two parts. Part I contains all the previously known sections of the form, where Part II contains all the newly introduced sections including:
- Section A – Governance and Ownership
- Section B – Services
- Section C – Distribution Network
- Section D – CIF’s Exposure to Risks
- Section E – Internal Policies and Procedures
- Section F – Other information
For each quarter, the cumulative reporting period begins at the start of the calendar year and ends at the final date of the reporting period.
Regarding the naming convention, the Username denotes the TRS credentials of the regulated entity and yyyymmdd the end date of the reporting period of the form.
The QST form must be completed in the English language and report data in Euro rounded to the nearest unit. Regulated entities shall report the investment and ancillary services provided during the reporting period and not all the services prescribed in their license.
It is highlighted that the form must be submitted by all entities authorized by the 31st of December 2024, irrespective of whether they have made use or not of their authorization.
For more regulatory reporting obligations CIF entities must meet in 2025, please visit the SALVUS Regulatory Reporting Obligations Calendar™.
Please contact us at compliance@salvusfunds.com if you require additional information or support with the submission of the QST Form; our Regulatory Compliance team is ready to support you.
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