August Newsletter - Issue 32/2021
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Revised EBA Guidelines on ML/TF risk factor
12 August 2021
Following Circulars C276 and C219, the Cyprus Securities and Exchange Commission ("CySEC") with the present Circular wishes to inform the Regulated Entities of the Revised EBA Guidelines on customer due diligence and the factors credit and financial institutions should consider when assessing the money laundering ("ML") and terrorist financing ("TF") risk associated with individual business relationships and occasional transactions ("The ML/TF Risk Factors Guidelines") under Articles 17 and 18(4) of Directive (EU) 2015/84.
Circular: C465
Harmonization with the risk reduction measures package set by European community (in Greek) 
12 August 2021
The CySEC wishes to inform the investment public that on the 7th May 2021, the amended laws, which harmonize the institutional framework of Cyprus with the risk reduction measures package set by European community  were published on the Official newsletter of the republic. For more information please press 
Imposter website in India posing as real CySEC website
12 August 2021
The CySEC would like to draw the attention of the public to the fact that, its website has been copied illegally by another website hosted by a company based in India, resembling that of the real CySEC website. For more information please press 
Other Alerts
Follow-up report to peer review: Supervision of key functions has improved
11 August 2021
The European Insurance and Pensions Authority ("EIOPA") published a follow-up report to the 2018 peer review on the supervisory practices for the application of proportionality principle in government requirements regarding key functions. The follow-up report assesses how national competent authorities ("NCAs") have implemented the recommended actions from the original peer review. For more information please press 
Market News
Bond Losses Seen in India as Dissent Breaks Out at Central Bank
13 August 2021
"India’s bond yields will rise by year-end as disagreement among central bank’s rate-setting panel members indicates they are moving toward a more hawkish stance, a Bloomberg survey has found. The benchmark 10-year yield will climb to 6.40% by December, while the five-year yield will increase to 5.90%, according to the median estimate in the survey of 15 traders, fund managers and economists conducted this week. The 10-year yield was at 6.23% on Friday, and the five-year at 5.74%." For more information please press 
European stocks steady on strong earnings, M&A activity
12 August 2021
"European stocks held steady on Thursday, trading just below record highs as strong earnings from a clutch of insurers and M&A activity in UK helped offset a decline in miners. The pan-European STOXX 600 index was flat in morning trade after eight consecutive days of record gains." For more information please press 
Bloomberg Professional
Gold looks set to take top prize vs. copper into 2021 year-end
12 August 2021
"Underpinnings favor gold vs. copper in 2H, in our view. The benchmark precious metal has the relative-value advantage of a substantial correction within an enduring bull market and support from declining U.S. Treasury bond yields. Base metals appear as extended as the stock market, and thus highly subject to some reversion, which would translate toward more-enduring deflationary trends and support the price of gold. Bottom line: The stock market has to go up or copper and industrial metals will continue reverting toward lower means." For more information please press 
Crypto Market’s Climb Back Toward $2 Trillion Faces U.S. Hurdle
12 August 2021
"The cryptocurrency sector is back in sight of a $2 trillion market value, a level last seen in May, but further gains face an obstacle from potential new U.S. tax reporting requirements. The value of more than 8,800 tokens tracked by CoinGecko has risen 55% to $1.95 trillion from a July low, helped by rallies in Bitcoin and Ether. The climb in Bitcoin has stalled due to the oversight of virtual currencies in the infrastructure bill passed by the Senate, according to crypto exchange Luno." For more information please press 
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. 

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