Updates


April
2018

The Financial Conduct Authority ("FCA") has published the latest step in its response to the concerns identified through its asset management market study.

April
2018

The European Securities and Markets Authority ("ESMA") has agreed on measures on the provision of contracts for differences ("CFDs") and binary options to retail investors in the European Union.

March
2018

The European Insurance and Occupational Pensions Authority ("EIOPA") published the second in a series of papers with the aim of contributing to the debate on systemic risk and macroprudential policy.

March
2018

The Joint Committee of the European Supervisory Authorities ("ESAs") weighed the benefits and risks of Big Data and published its final report on Big Data. The report analyses its impact on consumers and financial firms.

March
2018

The European Banking Authority ("EBA") launched a consultation on its Guidelines for credit institutions on how to effectively manage non-performing exposures ("NPEs") and forborne ("FBEs"). 

March
2018

The European Banking Authority (EBA) launched today a new web page including the tools to access its data point model (DPM), which compiles the harmonised data requirements included in its technical standards and guidelines. 

March
2018

The European Securities and Markets Authority ("ESMA") is launching its Interactive single rulebook, which is a new service for market participants and other interested stakeholders across the European Union.

March
2018

The European Supervisory Authorities ("ESAs") for securities ("ESMA"), banking ("EBA"), and insurance and pensions ("EIOPA") have issued a pan-EU warning to customers regarding the risks of buying Virtual Currencies ("VCs").

February
2018

The European Securities and Markets Authority ("ESMA"), has updated its transitional transparency calculations ("TTC") for equity and tick sizes under the Markets in Financial Instruments Directive ("MiFID II").

February
2018

The European Banking Authority ("EBA") published an updated list of credit institutions exempted from or subject to a higher cap on inflows in the calculation of Liquidity Coverage Ratio ("LCR") in accordance with the provisions laid down in the LCR Delegated Act.

January
2018

The European Securities and Markets Authority ("ESMA"), has published a call for evidence on potential product intervention measures relating to the provision of contracts for differences ("CFDs"), including rolling spot forex, and binary options to retail investors.

January
2018

The Cyprus Securities and Exchange Commission ("CySEC") expands its Web Portal to include the Alternative investment Fund Managers ("AIFMs") and UCITS Management Companies through which they can submit digitally signed documents/letters to the CySEC.

January
2018

We would like to inform you that the Markets in Financial Instruments Directive ("MiFID II") is the framework of European Union legislation for investment intermediaries and the organised trading of financial instruments.

January
2018

Further to our Newsletters Issue 03/2017, 08/2017 and 11/2017 we would like to inform you that the House of Representatives voted on Wednesday an extension to the deadline for the submission of applications to enter into an arrangement for the payment of overdue taxes until 30/06/2018.

January
2018

We would like to inform you that the Cyprus Tax Department has issued on the 29th of December 2017 the Circular 219-VAT and on the 2nd of January 2018 the Circular 220-VAT, providing some important clarification in relation with the implementation of the New Law.

January
2018

We would like to inform you that as from 1st January 2018, the Gibraltar Financial Services (Distributed Ledger Technology Providers) Regulations 2017 (the "DLT Regulations") will come into force.

January
2018

The Financial Conduct Authority ("FCA") released a statement regarding the European Council's ("EC") confirmation that sufficient progress has been made to move to the second phase of negotiations related to transition and the framework for the future relationship between the UK and the European Union.

December
2017

The Financial Conduct Authority ("FCA") published its approach to authorisation and its approach to competition.

December
2017

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - "ESAs") published draft regulatory technical standards ("RTS").

December
2017

The European Securities and Markets Authority ("ESMA") published the results of its Peer Review of the Guidelines on certain aspects of the compliance function under MiFID.

November
2017

We would like to inform you that the Tax Department of the Republic of Cyprus has issued on 25 November 2015, Circular No. 198, amending the provisions the Cyprus Yacht Leasing Scheme that was firstly introduced in Cyprus since March 2012.

November
2017

The European Banking Authority ("EBA") published its sixth updated list of capital instruments that Competent Authorities across the EU have classified as Common Equity Tier 1 ("CET1").

November
2017

We would like to bring to your attention that the second installment of temporary tax for the year 2017 is due by 31 December 2017.

November
2017

We would like to inform you that the Cyprus House of Representatives in Cyprus voted on 3 November 2017 a new Law amending the Cyprus VAT Law N. 95(I)/2000 (hereafter ‘the Law’). The new Law was published in the Official Gazette of the Republic of Cyprus on the 13 of November 2017.

November
2017

The European Banking Authority ("EBA") opened a public consultation on a proposed amendment to the Regulatory Technical Standard 1 ("RTS 1") which details the implementation of the Markets in Financial Instruments Directive ("MiFID II") and Regulation ("MiFIR").

November
2017

We would like to remind you about obtaining a Legal Entity Identifier ("LEI") before 3 January 2018, the implementation date for Markets in Financial Instruments Directive ("MiFID II") and Regulation ("MiFIR") transaction reporting obligations. 

October
2017

The European Securities and Markets Authority ("ESMA") published 9 opinions on position limits regarding commodity derivatives under MiFID II/MIFIR. ESMA’s opinions agree 9 position limits proposed by the Financial Conduct Authority ("FCA").

October
2017

Further to our Newsletters Issue 03/2017 and 08/2017, we would like to inform you that the House of Representatives voted an amendment to the Law Regulating the Settlement of Overdue Taxes extending the deadline for the submission of applications to enter into the scheme by 3 months.

October
2017

The Cyprus Securities and Exchange Commission ("CySEC") wishes to inform Regulated Entities and the Issuers that European Securities and Market Authority ("ESMA") published on 9 October 2017, a briefing regarding the LEI.

October
2017

We would like to remind you about obtaining a Legal Entity Identifier ("LEI") before 3 January 2018, the implementation date for Markets in Financial Instruments Directive ("MiFID II") and Regulation ("MiFIR") transaction reporting obligations. 

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