What is the key difference in who appoints a special administrator versus a temporary administrator?
Explanation
This question focuses on a key distinction between the two types of administrators discussed in the early intervention section, specifically the appointing body for each.
Other questions
According to Chapter 11, which law provides the framework for the recovery of Cypriot investment firms (CIFs) and other entities under the supervision of CySEC?
A CIF's recovery plan must include a detailed description of the integration of recovery planning in which of its structures?
What assumption MUST a recovery plan avoid making, according to the law?
Under what condition is an intra-group financial support agreement approved by CySEC?
A CIF's operations are considered to represent a significant share of the financial system if its total assets exceed what value?
What is the maximum initial appointment period for a temporary administrator appointed by CySEC?
Which of the following is NOT one of the five resolution tools available to the Central Bank of Cyprus under Law 22(I)/2016?
If a CIF is failing or likely to fail, who must CySEC inform?
A temporary administrator is appointed by which authority?
What is the primary purpose of a 'resolution college' in the context of cross-border group resolution?
In the event of a sale of business resolution, what is CySEC's responsibility regarding the acquirer?
A special administrator must submit a full report to the resolution authority within how many days of their appointment?
A CIF is also considered to have a significant share of the financial system if its total assets in relation to GDP exceed 20 percent, provided its total assets are above what amount?
How often must a CIF's recovery plan be reviewed?
In an intra-group financial support agreement, which of the following is explicitly allowed to be taken into account when setting the consideration for the support?
What is the asset separation tool also referred to as?
In a cross-border resolution context, CySEC may enter into a memorandum of cooperation with the relevant authorities of a third country where a Union subsidiary is established. This applies when the Union subsidiaries are established in how many member states?
One of the powers of a special administrator is to revise or abolish which of the following?
When using the 'transfer of assets' resolution tool, CySEC may grant permission for a bridge institution to be established without complying with the Investment Services and Activities Law for what duration?
Information originated in another member state will be disclosed by CySEC to a third-country authority only if what condition is met?
Which of the following items is a mandatory component of a CIF's recovery plan?
The resolution tool 'write down or conversion' primarily applies to what?
Which of the following is NOT a condition that an intra-group financial support agreement must comply with?
In the case of an initial offer to the public of a class of shares admitted to trading for the first time, how long before the end of the offer must the prospectus be made available?
A group recovery plan is required for union parent undertakings and needs to include arrangements to ensure what?
If CySEC requires a CIF to undertake early intervention measures due to a rapidly deteriorating financial condition, what is an example of a trigger mentioned in the text?
What is one of the tasks CySEC performs in its capacity as a consolidating supervisor within a resolution college?
During normal insolvency proceedings of a CIF, which law's provisions are applied for the verification and classification of claims?
What is the key purpose of the 'Transfer of assets to an asset management company' resolution tool?
A temporary administrator's role and duties are specified by whom at the time of appointment?
What is a key consideration for CySEC when deciding whether to allow for simplified recovery planning obligations for a CIF?
Which of these components is a required part of a recovery plan?
In addition to a CIF itself, Law 20(I) of 2016 applies to which of the following entities?
What action is taken regarding the voting rights of an acquirer if a transfer of shares in a CIF resolution results in a qualifying holding but CySEC has not finalized its assessment by the transfer date?
A framework cooperation agreement in a cross-border resolution establishes processes for sharing information and carrying out which of the following activities?
One of the conditions for an intra-group financial support agreement is that the party providing support must have what from the recipient?
A special administrator reports to which body?
Which entity is NOT listed among those that CySEC will inform when it determines the conditions for resolution are met for a CIF?
How is information considered if it is subject to confidentiality requirements under Union law?
What does a group recovery plan aim to achieve for the group?
A special administrator has the discretion to remove or replace which of the following?
What happens if a temporary administrator works alongside the CIF's management body?
When is CySEC required to consult with the competent authorities of the home member state of a UCITS?
What is explicitly included in a recovery plan concerning central bank facilities?
Which of the following is NOT a power of a special administrator listed in Chapter 11?
When can CySEC grant permission for the establishment of a bridge institution?
What is the primary difference between a special administrator and a temporary administrator's role?
The framework cooperation agreement for cross-border resolutions does NOT establish processes for which of the following?
What must be included in a recovery plan regarding liabilities?