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ICAS
July Newsletter - Issue 76/2020
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CySEC
CIFs Quarterly Statistics (Form QST-CIF) – Revised Form: 3 Νew Sections are added 
30 June 2020
The present Circular is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law ("the CySEC Law"). The Cyprus Securities and Exchange Commission ("the CySEC") wishes to inform Cyprus Investment Firms ("CIFs") about the three new sections added to the revised Form CIFs Quarterly Statistics ("Form QST-CIF").
Circular: C395
CySEC
Management Companies and Self-Managed Funds Quarterly Statistics
30 June 2020
The present Circular is issued pursuant to section 25(1)(c)(ii) & (iii) of the CySEC Law. The CySEC wishes to inform Regulated Entities about the information requested by CySEC about the quarterly statistics.
Circular: C393
CySEC
Interest Rate Benchmarks – Reform of short-term interest rates such as London Interbank Offered Rate LIBOR and EURIBOR and transition to Risk Free Rates ("RFRs")
29 June 2020
The CySEC wishes, with this Circular, to inform Regulated Entities on the latest developments with regards to LIBOR.
Circular: C394
Announcements
EBA
Publishes final Guidelines on the treatment of structural FX positions
01 July 2020
The European Banking Authority ("EBA") published its final Guidelines on the treatment of structural FX positions. The aim of these Guidelines is to establish a harmonised framework for the application of the structural FX waiver, which will allow its consistent application going forward. The Guidelines will be applicable from 1 January 2022, one year later than originally envisaged to ensure that institutions have time to prepare for the introduction of the requirements. For more information please press 
here.
ESMA
Responds to European Commission consultation on the digital finance strategy
29 June 2020
The European Securities and Markets Authority ("ESMA"), the EU’s securities markets regulator, has submitted a response to the European Commission’s ("EC") consultation on a new digital finance strategy for the European Union ("EU"). ESMA welcomes the EC consultation noting that it builds on the 2018 FinTech Action Plan that set a number of deliverables for the ESAs, all of which were completed. For more information please press 
here.
Other Alerts
EIOPA
Innovation for the benefit of consumers: Opening remarks by Gabriel Bernardino at the European Forum for Innovation Facilitators ("EFIF")
03 July 2020
While there is growing acceptance of and appetite for innovation in financial services, it is essential that innovation always benefits consumers. This was one of the key messages that Gabriel Bernardino, Chair of the European Insurance and Occupational Pensions Authority ("EIOPA") gave to participants in his opening remarks at the meeting of the EFIF. For more information please press 
here.
Market News
Reuters
COVID recovery vs COVID reality
03 July 2020
"World shares inched towards a four-month high on Friday and industrial bellwether metal copper was set for its longest weekly winning streak in nearly three years, as recovering global data kept nagging coronavirus nerves at bay." For more information please press 
here.
Financial Times
Chinese shares hit 5-year high after rebound in services
03 July 2020
"Optimism remains tempered by fresh restrictions and Sino-US friction." For more information please press 
here.
Bloomberg Professional
Asian central banks exhale as volatile capital flows steady
02 July 2020
"Asia’s stabilizing financial markets are allowing the region’s central banks to exhale as currencies find their feet and investor money returns. It’s a crucial reprieve after unprecedented outflows from emerging markets and currency turmoil that followed the coronavirus outbreak. As countries slowly begin reopening and the Federal Reserve likely pauses for now, the pressure is off central bankers in the region to cut interest rates even lower." For more information please press 
here.
Bloomberg
S&P 500’s Past 100 Days Were Its Best in Almost Nine Decades
01 July 2020
"The S&P 500 has had a 100-day run for the record books. Since bottoming March 23, the benchmark for American equities has rallied 40%, a feat not done for almost nine decades. If history is any guide, the gains have further to go, according to Bespoke Investment Group." For more information please press 
here.
Cryptocurrencies
Bloomberg
Bitcoin is stuck in a rut, but millennials could bring salvation
01 July 2020
"In a period defined by market volatility, Bitcoin hasn’t gone much of anywhere. Crypto analysts are betting bored millennials can drive a breakout rally. The largest digital asset has traded in a narrow band between $8,500 and $10,000 for the past two months, the longest it’s gone without substantial movement this year. In addition, its 14-day Relative Strength Index ("RSI") which measures the magnitude and persistence of price movement -- is at 48.5, a neutral point that underscores its muted range." 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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Treppides Advisers Ltd
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United Kingdom


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Tel:  +357 25 822722
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Finanz Audit Ltd
Level 1, Somnium
Tower Road, Swatar
Birkirkara, BKR 4012
Malta


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

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