Published on: 02 October 2026 | By: Christos Christou
Accounting, Tax & Regulatory Reporting Lead, CX Financia | IFRS & CySEC Regulatory Compliance Specialist
Introduction
On 2 October 2026, the Cyprus Securities and Exchange Commission (CySEC) issued Circular C803, reminding all Cyprus Investment Firms (CIFs) of their obligation to submit the Quarterly Statistics Form QST-CIF (Version 19) for the quarter ending 30 September 2026. This is a recurring obligation, not a new requirement, but strict adherence to the submission process and deadline is critical. The form must be successfully submitted via CySEC’s Transaction Reporting System (TRS) by 4 November 2026, with no extensions granted.
CySEC Circular C803 – At a Glance
- Issued date: 2 October 2026
- Applies to: All Cyprus Investment Firms (CIFs) authorised by CySEC by 30 September 2026, including those that have not made use of their authorisation
- Deadline: 4 November 2026 (5 weeks after quarter end)
- Key requirement: Submit Form QST-CIF (Version 19) electronically via TRS with a NO ERROR feedback file
- Submission method: CySEC’s Transaction Reporting System (TRS)
What Does This Circular Require?
What firms must do. You must complete and submit Form QST-CIF (Version 19) electronically via CySEC’s Transaction Reporting System (TRS) by 4 November 2026. You are responsible for ensuring you receive a feedback file confirming a NO ERROR submission. If errors are detected, you must correct them and re-submit the form until a NO ERROR confirmation is received. For ongoing assistance with filings and reporting standards, firms often rely on comprehensive Management Reporting & KPI Dashboards.
Legal basis. Section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law (CySEC Law)
Regulatory objective. To collect accurate and timely quarterly statistical data from CIFs to support CySEC’s supervisory and policy-making functions. To ensure your overarching reporting framework is fully optimized, you can review our specialist Regulatory Compliance Services in Cyprus.
Who Is in Scope?
The obligation applies to all CIFs authorised by CySEC by the reference date of 30 September 2026, regardless of whether they have actively used their authorisation.
- Cyprus Investment Firms (CIFs)
Edge cases and exceptions:
- Non-active CIFs: Firms authorised by 30 September 2026 but not yet operational must still submit the form.
- Newly authorised CIFs: Firms authorised after 30 September 2026 are not required to submit for this quarter.
Key Requirements Breakdown
Reporting / Submission Requirements
The form requires quarterly statistical data, including financial and operational metrics. Reporting periods vary by section: some data is “as at the reference date,” while other data covers the quarter or cumulative year-to-date.
Data or Form Requirements
Form QST-CIF (Version 19) is an Excel-based form. Data must be reported in Euro, rounded to the nearest unit. The form includes multiple sections (Parts I and II) with distinct reporting periods and definitions, particularly for “client.”
Technical / System Requirements
The form must be saved in Excel 2007 or later (.xlsx) and named using the convention: Username_yyyymmdd_QST-CIF (e.g., TRSUSER_20260930_QST-CIF). The file must be digitally signed (where applicable) and submitted via TRS. A feedback file confirming NO ERROR is required for successful submission.
Validation or Approval Process
Before submission, you must ensure all validation tests in the form (General Info, Parts I and II, and the Validation Tests worksheet) return TRUE (green). Errors must be corrected before re-submission.
Practical Implementation: What Firms Should Do
In practice, you should begin completing Form QST-CIF as soon as possible to allow time for validation and error correction. Common mistakes include misinterpreting the reporting periods or client definitions, which vary by section. Ensure you use the latest version (Version 19) and follow the naming convention precisely to avoid submission failures.
To maintain robust governance alongside statistical filings, it is vital to coordinate closely with your oversight teams; learn more about how our structured Internal Audit Services Cyprus can support your operations.
CySEC expects strict compliance with the deadline and will not grant extensions or send reminders. Submissions are only considered successful upon receipt of a NO ERROR feedback file during CySEC’s regular hours. If you encounter errors, review the form, correct the issues, and re-submit promptly.
Key Dates and Deadlines
Step-by-Step Submission Process
- Download Form QST-CIF (Version 19) from CySEC’s website and review the ‘Instructions’ worksheet carefully.
- Complete all required fields in the form, ensuring data is reported in Euro and rounded to the nearest unit. Pay close attention to the reporting periods and definitions for each section.
- Validate the form by checking that all validation tests in the General Info, Parts I and II, and the Validation Tests worksheet return TRUE (green).
- Save the form in Excel 2007 or later (.xlsx) and name it using the convention: Username_yyyymmdd_QST-CIF (e.g., TRSUSER_20260930_QST-CIF). Do not manually add the .xlsx extension.
- Digitally sign the form (where applicable) and submit it electronically via CySEC’s Transaction Reporting System (TRS).
- Check the Outgoing directory in TRS for the feedback file. If errors are reported, correct them and re-submit the form until a NO ERROR confirmation is received.
Compliance Officer Checklist
- Form QST-CIF (Version 19) downloaded and reviewed
- All sections completed with data in Euro, rounded to the nearest unit
- Reporting periods and client definitions verified for each section
- Validation tests passed (all TRUE/green)
- Form saved in Excel 2007+ (.xlsx) with correct naming convention
- Form digitally signed (where applicable)
- Form submitted via TRS before 4 November 2026
- NO ERROR feedback file received and retained
Evidence to Retain
- Copy of the submitted Form QST-CIF (Version 19) with correct naming convention
- NO ERROR feedback file from TRS confirming successful submission
- Email correspondence with CySEC (if queries were submitted) including subject line with CIF’s full name and TRS coding
Why This Matters
Timely and accurate submission of Form QST-CIF is a legal obligation under the CySEC Law. Failure to comply may result in administrative penalties under section 37(5) of the CySEC Law. CySEC will not send reminders for non-compliance, and extensions will not be granted. Non-submission or late submission risks regulatory action, including fines and reputational damage.
For broader corporate oversight guidelines, reference is made to the Cyprus Securities and Exchange Commission (CySEC) and the European regulatory framework managed by the European Securities and Markets Authority (ESMA).
Frequently Asked Questions
Is Form QST-CIF required for CIFs that have not yet started operations?
Yes. All CIFs authorised by CySEC by 30 September 2026 must submit Form QST-CIF, even if they have not made use of their authorisation.
What happens if I submit the form after the deadline?
CySEC will not grant extensions, and late submissions may result in administrative penalties under section 37(5) of the CySEC Law.
How do I know if my submission was successful?
You must receive a feedback file from TRS with a NO ERROR indication. Submissions are only successful when this confirmation is received.
Can I submit the form in a language other than English?
No. Form QST-CIF is available only in English, and submissions must be made in this language.
What should I do if I encounter errors during submission?
Review the error description in the feedback file, correct the issues in the form, and re-submit until a NO ERROR confirmation is received.
Where can I find help if I have questions about completing the form?
Submit written queries to riskstatistics.cifs@cysec.gov.cy by 28 October 2026. Include your CIF’s full name and TRS coding in the subject line.
How CX Financia Can Support You
At CX Financia, we help CIFs navigate CySEC’s regulatory requirements with confidence. Our specialized Financial Compliance Services in Cyprus and tailored Risk Management Compliance Advisory ensure your Form QST-CIF is completed accurately, validated, and submitted on time. We also provide Internal Audit support to verify your processes and AML/CFT advisory to align with broader compliance obligations. Contact us to discuss how we can assist with your quarterly reporting needs.
Read the CySEC Circular C803
Read more at Regulatory Updates
Disclaimer
This article provides general information based on CySEC Circular C803 and is not intended as regulatory or legal advice. For specific guidance tailored to your firm’s circumstances, consult a qualified professional.