The Cyprus Securities and Exchange Commission (CySEC) on Monday issued a circular to inform fund managers and related entities about the submission of quarterly statistics for Q4 2024.

The reporting deadline is set for January 31, 2025, and compliance is mandatory under CySEC law.

The circular applies to a broad range of entities, including Alternative Investment Fund Managers (AIFMs), UCITS Management Companies, and internally managed funds.

These entities must complete and submit a new version of the reporting form, QST-MC Version 22, to the Transaction Reporting System (TRS).

“Regulated Entities authorised or appointed to act as External Managers by December 31 2024 must comply, even if they have not used their authorisation,” CySEC stated.

CySEC outlined several key points for ensuring a successful submission.

Entities must confirm they receive a feedback file indicating “no error” after submitting their form.

If errors are detected, they must correct and resubmit the form.

According to CySEC, “the form is deemed successfully submitted only when a no error feedback is received.”

The circular also introduced guidelines for reporting sub-funds, specifying that sub-funds within umbrella funds must be counted individually when completing sections of the form.

For instance, a fund with three sub-funds should report a total of three UCIs.

Additionally, a new column in the form now requires the ISIN code for each sub-fund, and if no code is available, entities must enter “N/A.”

CySEC stressed the importance of meeting the submission deadline.

“Failure to comply may result in administrative penalties under section 37(5) of the CySEC Law,” the circular warned.

Unlike previous practices, CySEC will not issue reminders for late submissions.

The form must be submitted electronically in Excel format through the TRS.

Entities must ensure the latest version, Version 22, is used. Data should be reported in euros and rounded to the nearest unit.

Additionally, all validation checks embedded in the form must pass before submission.

“For technical matters on digitally signing and submitting the form, regulated entities are advised to frequently visit CySEC’s website at the specified section,” the commission said.