CYFA would like to notify its members that the Cyprus Securities and Exchange Commission (CySEC) issued on the 7th of April 2023 Circular C564 in relation to the new version of the Form RBSF-ASP Version 6. Its scope is the collection of various statistical information and CySEC will use this information, for the purposes of conducting statistical analyses, risk management, and other purposes. For your information Version 6 of the Form RBSF-ASP can be accessed here and Circular C564 can be accessed here.
Further, the Association is pleased to inform you that the amendment of Part 3.3 of Section E, which now requires only the reporting of the Total Inflows and Outflows of all High-Risk Customers in/from their bank accounts during the reporting period, instead of the total Inflows and Outflows of all Customers in/from their bank accounts during the reporting period, as it was in the previous version of the Form, has been the result of a constructive and successful consultation process between the Association and CySEC. To accomplish the above, during the past year, CYFA has engaged closely with CySEC and other key stakeholders to identify the best possible alternative for the specific reporting requirement and is of the opinion that the relevant amendment will reduce any unnecessary estimation of figures and will assist service providers to provide reporting in a more efficient and accurate manner.
At the same time, CYFA will continue its efforts to promote members’ interests and will keep all members updated on any further developments.
It is noted that each member is obliged to comply with the Tax, AML, ASP Law, and the circulars/guidelines of the relevant authorities and regulators. Any information contained in any other notifications or circulars should be assessed on its own merits.