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ICAS
December Newsletter - Issue 50/2021
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CySEC
 Suspension of redemption of UCITS and AIF units on 24 December 
2021
15 December 2021
The Cyprus Securities and Exchange Commission (the “CySEC”) wishes herein to inform the Regulated Entities that the redemption of UCITS and AIF units is suspended for the 24 December 2021. It is provided that the suspension refers to UCITS and AIFs that hold assets in transferable securities listed in regulated markets and whose net assets are calculated on a daily basis.
Circular 477
Announcements
EBA
Strengthens AML/CFT supervision in the EU through revised Guidelines and enhanced cooperation
16 December 2021
The European Banking Authority ("EBA") published its revised Guidelines on risk-based supervision of credit and financial institutions’ compliance with anti-money laundering and countering the financing of terrorism ("AML/CFT") obligations. The Guidelines set out the steps supervisors should take to ensure adequate AML/CFT oversight of their sector and support the adoption, by credit and financial institutions, of effective ML/TF risk management policies and procedures.  The EBA decided to update and strengthen these Guidelines in light of the findings from its ongoing work to review competent authorities’ approaches to AML/CFT supervision. These findings suggest that some competent authorities found the implementation of the risk-based approach to AML/CFT supervision challenging. For more information please press 
here.
Market News
Reuters
BoE hikes, Fed pivots, ECB rolls slow as pandemic exits diverge
16 December 2021
"Britain became the first G7 economy to hike interest rates since the onset of the pandemic on Thursday, with the U.S. Federal Reserve also signalling plans to tighten in 2022 but the European Central Bank only slightly reining in stimulus. The different paths taken by major central banks underline deep uncertainties about how the fast-spreading Omicron variant will hit the global economy and their differing views on an inflation surge that is landing hard in the United States and Britain, but less so in Europe and less again in Japan. While the risk of uncontrolled prices has taken precedent for the Fed and the Bank of England, European Central Bank President Christine Lagarde emphasised in a news conference that the pandemic was again depressing spending in the euro zone and threatening growth." For more information please press 
here.
Bloomberg
Goldman Says $100 Oil Possible as Record Demand Outpaces Supply
17 December 2021
"Oil at $100 a barrel cannot be ruled out in 2023 as supply additions are expected to be too slow to keep up with record demand, according to Goldman Sachs Group Inc. While the bank’s base forecast is for Brent to stay around $85 next year and 2023, it could breach triple digits through either higher cost inflation for drillers, or if an unexpected supply shortfall forces prices to spike high enough to destroy demand, said Damien Courvalin, head of energy research. The upside risks underscore why Goldman remains bullish on oil even after prices have rallied more than 40% this year. The bank sees the recent sell-off as overdone on unnecessary concerns about omicron-related restrictions and expects investors to buy the dip once asset managers reallocate money next year." For more information please press 
here.
Financial Times
Bond ETF inflows slump to lowest level since start of pandemic
17 December 2021
"
Investors are turning their backs on bond exchange traded funds amid worries over inflation, with inflows slumping to their lowest level since the start of the Covid-19 pandemic. Bond ETFs saw global net inflows of just $14bn in November, according to data from BlackRock’s iShares arm, the weakest reading since March 2020, when markets were upended by the emergence of the novel coronavirus. Many traditional corporate bond and high-yield bond ETFs will have fared worse still, with investors increasingly looking to protect themselves from the ravages of rising prices via inflation-linked bonds or short duration government debt, iShares found." For more information please press here.
Cryptocurrencies
Bloomberg
Binance.US Hires First Chief Risk Officer
16 December 2021
"Binance.US, the American affiliate of the largest global cryptocurrency exchange, hired Sidney Majalya from Intel Corp. to serve as deputy general counsel and the firm’s first chief risk officer. Majalya was vice president, legal and chief compliance officer at the largest U.S. semiconductor maker. Prior to Intel, he helped build out Uber Technologies Inc.’s legal compliance department before the ride-hailing company went public in 2019. 
" For more information please press here.
Regulatory Reporting Solutions
Treppides Regulatory Reporting offers extensive reporting solutions under EMIR, MIFID, CRD IV, FATCA, CRS, REMIT towards MiFID II / MiFIR and CRS in all EU/ESMA jurisdictions like Cyprus (CySEC) and UK (FCA) and soon will also comply with foreign jurisdictions such as ASIC DTR. 

Contact us directly at info@treppidesrr.com to discuss your tailor made solution.

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