CySEC aligns local rules with European digital resilience standards

The Cyprus Securities and Exchange Commission (CySEC) recently announced the adoption of European guidelines on outsourcing to cloud service providers, while it also issued a reminder regarding updated stress test rules for money market funds.

The developments were outlined in two separate circulars which together address cloud outsourcing arrangements for certain depositaries and requirements for fund managers.

In the first circular, CySEC explained that it has adopted the...