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ICAS
September Newsletter - Issue 34/2019
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CySEC
OFAC’S Specially Designated Nationals List ("SDN" List)
06 September 2019
Further to Circular C266, the Cyprus Securities and Exchange Commission ("CySEC") wishes to remind Regulated Entities to consider the Special Designated Nationals List ("SDN" List), which is updated regularly, when assessing the money laundering ("ML") and terrorist financing ("TF") risks associated with business relationships and occasional transactions with their clients.
Circular: C337
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CySEC
Guidelines on complaints-handling for the securities sector – Handling of client’s complaints by CIFs 
11 September 2019
The CySEC wishes, with this circular, to inform the Cyprus Investment Firms (“CIF”) that the European Securities and Markets Authority (“ESMA”) and the European Banking Authority (“EBA”), have reissued on October 4th 2018, the guidelines on complaints-handling for the securities and banking sectors (“Guidelines”), (JC 2018 35) in order for the Guidelines to apply to additional financial market participants. 
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Circular: C338
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Announcements
MarketWatch
ECB cuts key rate, relaunches QE to shore up eurozone economy
12 September 2019
The European Central Bank ("ECB") delved deep into its tool box, cutting its deposit interest rate further into negative territory, launching a new round of monthly bond purchases and taking other steps to stimulate a flagging eurozone economy. In outgoing ECB President Mario Draghi’s next-to-last meeting, the central bank, as expected, delivered a 10 basis point cut to the deposit rate that banks pay to park excess reserves with it. The move pushed the rate to minus 0.5%. For more information please press here.
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EBA
EU financial regulators highlight risks of a no-deal Brexit and search for yield
12 September 2019
The European Union's ("EU") banking, insurance, pensions and securities sectors continue to face a range of risks, the latest report on "Risks and Vulnerabilities in the EU Financial System" published by the Joint Committee of the European Supervisory Authorities ("ESAs") shows. For more information please press here.
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ESMA
Publishes responses to its consultation on cost of market data and consolidated tape
11 September 2019
ESMA publishes responses to its Consultation on MiFID II/MiFIR review report on the development in prices for pre- and post-trade data and on the consolidated tape for equity instruments. For more information please press here.
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Other Alerts
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FCA
Steps up efforts to ensure firms are getting ready for a no-deal Brexit
11 September 2019
The Financial Conduct Authority ("FCA") is stepping up its efforts to ensure firms are aware of what they need to do to prepare for the potential of a no-deal Brexit. Firms who have not prepared appropriately may risk an impact on their business. For more information please press here.
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Market News
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Bloomberg Professional
Tougher risk safeguards put a premium on accurate XVA calculations
12 September 2019
"The financial crisis has ushered new regulations compelling firms the world over to protect themselves against credit and counterparty risk for OTC derivatives. They’re increasingly being required to provide more stringent buffers against threats to themselves and have in place stricter safeguards for the clients they transact with. Knowing how to assess the particular risks inherent in a security and counterparty is critical to building those buffers. But as regulations get tougher, those calculations become far more complex."  For more information please press here.
 
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Bloomberg 
Yield Hunters Eye Greek Government Moves on Early Debt Repayment
13 September 2019
"Investors are hailing Greece’s plan for the early repayment of 3 billion euros ($3.3 billion) in bailout funds as one of the strongest signs yet of its recovery from the economic devastation of the financial crisis." For more information please press here.
 
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Financial Times
Pemex pays up to secure $7.5bn bond issue
13 September 2019
"Attractive pricing draws investor support for debt-laden state oil company." For more information please press here.
 
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Reuters
China prods state firms to boost investment in crisis-hit Hong Kong
12 September 2019
"China has called on its biggest state firms to take a more active role in Hong Kong, including stepping up investment and asserting more control of companies in the financial hub, executives familiar with the matter said, as Beijing attempts to calm months of unrest in the city." For more information please press here.
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Cryptocurrencies
MarketWatch
Progress is being made’ toward bitcoin ETF, SEC chair says
09 September 2019
"The investing industry has taken steps toward addressing the issues that make regulators uncomfortable about allowing an exchange-traded fund made up of cryptocurrency assets, the chairman of the Securities and Exchange Commission told CNBC on Monday." For more information please press here.
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Regulatory Reporting Solutions
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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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Malta


Tel: +356 2010 8080
Fax: +356 2546 6103
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Email: info@finanz-audit.com

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