Updates


January
2020

The European Banking Authority ("EBA") launched a public consultation on possible future changes to the EU-wide stress test.

January
2020

The European Banking Authority ("EBA") launched a consultation on draft Regulatory Technical Standards ("RTS") on how institutions should calculate the own funds requirements for market risk for their non-trading book positions that are subject to foreign-exchange risk or commodity risk under the FRTB standardised and internal model approaches.

January
2020

The Cyprus Securities and Exchange Commission ("CySEC") wishes to herein remind the Regulated Entities of the requirements under the Regulation (EU) 2015/2365.

January
2020

The present Circular is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law ("the CySEC Law").

January
2020

Increase of the personal income tax deduction for life and medical insurance premiums, social insurance, pension and provident fund and GHS contributions.

December
2019

The European Securities and Markets Authority ("ESMA") has announced that it has extended the recognition decisions for the three central counterparties ("CCPs") established in the United Kingdom ("UK").

December
2019

We would like to inform you that as per the Decree No. 422/2019 published on the official Gazette of the Republic, the public interest rate imposed on any overdue or refundable taxes has been decreased from 2% per annum to 1.75% per annum.

December
2019

The European Securities and Markets Authority ("ESMA") has published its findings on potential undue short-term pressures in securities markets. 

December
2019

The European Insurance and Occupational Pension Authority ("EIOPA") launched a consultation on guidelines on Information and Communication Technology ("ICT") security and governance. 

December
2019

The European Supervisory Authorities ("ESAs") published joint draft Regulatory Technical Standards ("RTS") to amend the Delegated Regulation on the risk mitigation techniques for non-cleared OTC derivatives ("bilateral margining") as well as a joint statement on the introduction of fallbacks in OTC derivative contracts and the requirement to exchange collateral.

December
2019

Family offices and Succession Planning for the Next Generation, by Andreas Vladimirou

December
2019

The European Banking Authority ("EBA") published its final Guidelines on information and communication technology ("ICT") and security risk management.

December
2019

The European Insurance and Occupational Pension Authority ("EIOPA") has published its second annual European Insurance Overview.

November
2019

The European Banking Authority ("EBA") published a Consultation Paper on the draft amended Regulatory Technical Standards ("RTS") and Implementing Technical Standards ("ITS") on passport notification.

November
2019

We would like to bring to your attention that the second installment of temporary tax for the year 2019 is due by 31 December 2019.

November
2019

The Ukrainian parliament has passed on 30 October 2019 a draft law, ratifying the amending protocol of the Double Tax Treaty between  Cyprus and Ukraine, signed on 11 December 2015.  

November
2019

The European Securities and Markets Authority ("ESMA") has launched a Consultation Paper on position limits and position management in commodity derivatives.

November
2019

The European Banking Authority ("EBA") published its second opinion addressed to the EU Commission on the implementation of the Deposit Guarantee Schemes Directive ("DGSD") in the EU. 

November
2019

The European Securities and Markets Authority ("ESMA"), the EU’s securities markets regulator, publishes the priorities that European enforcers will consider when examining the 2019 annual financial reports of listed companies.

October
2019

The EBA launched a public consultation on the new comprehensive Implementing Technical Standard ("ITS") for financial institutions' public disclosure, designed to promote market discipline.

October
2019

The present Circular is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law (‘the CySEC Law’). 

October
2019

Financial Services towards Artificial Intelligence and Machine Learning, by Cosmas Cosma

October
2019

The European Insurance and Occupational Pensions Authority ("EIOPA") published updated technical documentation of the methodology to derive EIOPA's risk-free interest rate term structures.

October
2019

The European Banking Authority ("EBA") launched a 2-month public consultation on its proposals for a simple, transparent and standardised ("STS") framework for synthetic securitisation. 

September
2019

Time Value of Money, by Linos Zambas

September
2019

We would like to bring to your attention that the Cyprus Council of Ministers, approved a Scheme for sponsorship to be granted on the acquisition of undeveloped building land that will be used exclusively for the construction of a qualifying primary residence by private individuals.

September
2019

On 24 June 2019, the Chairmen of the US Securities and Exchange Commission and the US Commodity Futures Trading Commission, along with the Chief Executive of the Financial Conduct Authority ("FCA"), released a joint statement on opportunistic strategies in the credit derivatives markets.

September
2019

The European Central Bank ("ECB") delved deep into its tool box, cutting its deposit interest rate further into negative territory, launching a new round of monthly bond purchases and taking other steps to stimulate a flagging eurozone economy.

September
2019

The European Securities and Markets Authority ("ESMA"), the EU's securities markets' regulator, has developed a framework to be used for stress simulations for the investment fund sector.

September
2019

The EBA published its annual update on EU banks' funding plans and asset encumbrance, which helps EU supervisors assess the sustainability of banks' main sources of funding.

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