CySEC
Common weaknesses identified during the review of the Recovery Plans (Form 20-01) submitted by CIFs which qualify for the simplified Recovery Plan
10 August 2022 The Cyprus Securities and Exchange Commission (the "CySEC") wishes to inform the Cyprus Investment Firms ("CIFs") with Initial capital requirement of €750.000 per section 9(1) of Law 165(I)/2021 regarding the prudential supervision of Investment Firms, which fulfil the criteria of par.4 of the Directive DI20-01 on the establishment of simplified obligations as to the content and details of their Recovery Plans (qualifying CIFs), in relation to the common weaknesses identified during the review of the Recovery Plans (Form 20-01) submitted by the CIFs which qualify for the simplified Recovery Plan.
EBA
Consults on technical standards to help originator institutions determine the exposure value of synthetic excess spread in securitisations
09 August 2022
"The European Banking Authority ("EBA") launched a public consultation on its draft Regulatory Technical Standards ("RTS") on the determination by originator institutions of the exposure value of synthetic excess spread ("SES") in securitisations. The Capital Markets Recovery Package ("CMRP") amended the Capital Requirements Regulation ("CRR") in several aspects, including a preferential treatment for senior tranches of simple, transparent and standardised ("STS") on-balance-sheet securitisations. It also introduced a provision on how to determine the exposure value of SES in synthetic securitisations. The proposals set out in this Consultation Paper will contribute to a more risk sensitive prudential framework in the area of synthetic securitisation. The consultation runs until 14 October 2022." For more information please press here.
Market News
Bloomberg
Indonesia’s Rupiah seen rising to one-year high as funds return
11 August 2022
"Indonesia’s rupiah will advance to the strongest level in almost a year as the country’s trade surplus and attractive yields lure overseas investors to local stocks and bonds, according to TD Securities." For more information please press here.
Reuters
In Syria, a 'golden' crop struggles to regain its shine
11 August 2022 "Returning to their orchards after years of war, Syrian pistachio farmers hoping to revive their valuable crop have had their hopes dashed by scorched trees and the ravages of climate change." For more information please press here.
Financial Times
Nasdaq rallies more than 20% from recent lows after US inflation eases
11 August 2022 "US stocks rallied on Wednesday, with the tech-heavy Nasdaq Composite index closing more than a fifth above lows hit earlier this year, after fresh data showed inflation steadying in the world’s largest economy." For more information please press here.
Cryptocurrencies
Reuters
Australian crypto ownership warrants consumer protection, says regulator
11 August 2022
"Nearly half of Australian retail investors owned cryptocurrency in late 2021 and more got their information from YouTube videos than from financial advisers, the securities watchdog said on Thursday, calling the data a "strong case for regulation"." 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.
