CIF Prudential Reporting Form 165 through the new CySEC XBRL Portal

On the 25^th of January, the Cyprus Securities and Exchange Commission (CySEC) published Circular C546, regarding the submission of prudential reports through the CySEC XBRL Portal. The submission obligation concerns Cyprus Investment Firms (CIF) reporting either on a solo or consolidated basis, and Union parent companies reporting on a consolidated basis.

The prudential reports are required to be submitted in the eXtensible Business Reporting Language (XBRL) due to CySEC’s obligation to transmit them to the European Banking Authority (EBA) and as per the Investment Firms Regulation (IFR).

Furthermore, CIF shall arrange the submission of the prudential supervision forms in the XBRL format utilising one of the following ways:

1. Prepare and upload their own zipped XBRL file directly to the CySEC XBRL Portal, or
2. Make use of the built-in conversion feature of excel to XBRL format, after downloading the corresponding form through the XBRL Portal.

Class 2 CIF are required to submit retrospective and by the 31^st of January 2023, through the XBRL Portal, the already submitted reports for the 1^st, 2^nd and 3^rd quarter of 2022.

Moreover, CIF entities shall submit to both systems (TRS and the XBRL portal) the prudential reports until the reference period of 30^th of June 2023. Thereafter the reports shall be submitted only through the CySEC XBRL Portal. It is noted that the audited prudential reports for the reference period of 31^st of December 2022, shall be submitted only through the XBRL portal.

The SALVUS Risk Management team can support you and prepare all forms related to Prudential Supervision in order to be compatible for submission through both the TRS and the CySEC XBRL Portal.

For more regulatory reporting obligations that CIF are required to fulfil in 2023, please visit the SALVUS Regulatory Reporting Obligations Calendar^TM 2023.

Please contact us at info@salvusfunds.com if you require additional information or assistance with your prudential reporting obligations.

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