CySEC
Financial Action Task Force ("FATF") Guidance on Risk-based Approach for Virtual Assets and Virtual Asset Service Providers
24 November 2021
The Cyprus Securities and Exchange Commission (“the CySEC”) wishes herein to inform the Regulated Entities that the Financial Action Task Force ("FATF") has updated its 2019 Guidance for a Risk-Based Approach to Virtual Assets ("VAs") and Virtual Asset Service Providers ("VASPs").
EBA
Publishes final draft technical standards on how to calculate risk weighted exposure amounts for exposures towards collective investment undertakings
24 November 2021
The European Banking Authority ("EBA") published its final draft Regulatory Technical Standards ("RTS") specifying the methodology to apply to calculate the risk-weighted exposure amounts, in the context of the mandate-based approach when there are some missing inputs. For more information please press here.
Market News
Bloomberg
Future of ECB Stimulus Becomes Clearer Before December Meeting
26 November 2021
"The future of European Central Bank stimulus is becoming clearer before December’s crunch meeting, with its pandemic bond-buying tool on track to be wound down as planned but stay available for reactivation if needed. That’s the emerging consensus after weeks of public debate among officials who’ll gather in three weeks in Frankfurt against a backdrop of soaring prices and the abrupt re-imposition of lockdowns in parts of the continent -- factors that are casting a shadow over the recovery in the 19-member euro area." For more information please press here.
Reuters Sterling sinks below $1.33 for first time in 2021
26 November 2021 "Sterling briefly dropped below $1.33 for the first time since December 2020 as the British currency found itself caught up in the dumping of riskier assets amid panic over a new COVID-19 variant described as the most concerning yet. Concerns it might be harder to combat the variant in South Africa with vaccines also prompted investors to scale back their expectations for a Bank of England ("BoE") interest rate rise in December, adding to downward pressure on the pound." For more information please press here.
Bloomberg
Brent Oil Tumbles 5% With New Covid-19 Variant Roiling Markets
26 November 2021
"Oil fell sharply as a new Covid-19 strain raised concerns about the outlook for demand, sending global markets spiraling. Futures in New York tumbled below $74 a barrel and benchmark Brent shed as much as 5.1%. The emergence of the new strain has seen several nations curb travel from South Africa and some neighboring countries. Global markets sold off heavily, as traders fled to haven assets." For more information please press here.
Cryptocurrencies
Reuters Bitcoin slumps as coronavirus variant shakes markets
26 November 2021
"Bitcoin tumbled almost 8% on Friday after the discovery of a new, potentially vaccine-resistant coronavirus variant saw investors dump riskier assets for the perceived safety of bonds, the yen and the dollar. Bitcoin, the largest digital currency, fell as much as 7.8% to $54,377, its lowest since Oct. 12. It was on track for its biggest one-day drop since Sept. 20, and has slumped by more than a fifth since hitting a record high of almost $70,000 earlier this month." 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.
