Cyprus financial regulator CySEC has commenced its Web Portal (Portal) through which the Regulated Entities can submit digitally signed documents/forms/letters to the Commission. It is expected that the cost of printing and storing the physical documents will be eliminated since it will no longer be required to be submitted using this format.
The purpose of the Portal is not only to decrease the bureaucracy via the automated document submission procedure but also to ensure the safety and integrity of the correspondence in total. The Portal does not replaces TRS system which will continue to function properly (the forms that can be submitted via TRS are stated in other Circulars).
In future, the TRS will be incorporated in the Portal so that the Regulated Entities be connected in one system for all their document submissions. In the current phase the Portal is addressed to the Cyprus Investment Firms (the ‘CIFs’, the ‘Regulated Entities’) and soon will be expanded to the other Regulated Entities.
As a result, the CIFs are asked to follow the Commission’s directions:
1. Accessing to the System and entering username and password (the code which is used by the CIFs to login into the TRS system).
2. User Guide
- Before submitting any documents, the CIFs are asked to carefully study the Portal User Guide which is located in the relevant section. The guide explains all the steps and procedures for successful submission of the documents to the Commission.
3. Forms/Documents available for digital submission
- The list of the forms/documents available for submission via the TRS is located in the section ‘Reference Documents’. The Regulated Entities are urged to frequently visit the section so as to be informed accordingly as the list of acceptable forms/documents will be updated.
4. Digital Signature
- To be able to submit a document, a valid digital certificate accepted from the Commission is required. The Regulated Entities are asked to renew on time and at least seven (7) working days before its expiration the annual digital certificate as the Commission will not grant any extensions on the time specified by the legislation for the submission of documents on the ground of nontimely renewal of the digital certificate.
5. Submission of Documents
- In section ‘Documents History’ the Regulated Entity can be informed of the status of its document. The User Guide explains in detail how a successful submission is achieved as well as the meaning of probable errors.
6. Alternative Submission Ways
- The Commission expects that all the forms/documents/letters of CIFs will now be submitted via the Portal or via the TRS system (where this is applicable). As a result, these will not be accepted Page 3 of 3 with alternative submission ways (i.e. fax, email, post, messenger) unless explicitly asked by the Commission.
Technical assistance will also be provided at [email protected], if needed.