Updates

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

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.

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.

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").

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.

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.

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").

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. 

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").

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.

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.

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. 

The Management of K. Treppides & Co Ltd is pleased to announce the following appointments in the positions of Senior Managers. 

The European Securities and Markets Authority ("ESMA") issued its final draft Regulatory Technical Standard ("RTS") implementing the trading obligation for derivatives under the Markets in Financial Instruments Directive ("MiFID") and Regulation ("MiFIR"). 

The Joint Committee of the three European Supervisory Authorities ("EBA", "ESMA" and "EIOPA" - "ESAs") published specific guidelines for the prevention of fund transfers for terrorist financing and money laundering purposes.

The Financial Services and Market Authority ("FASMA"), ESMA and ECB launch a new working group tasked with the identification and adoption of a risk free overnight rate.

The European Securities and Markets Authority ("ESMA") updated its Q&A document regarding the implementation of the Market Abuse Regulation ("MAR").

The European Securities and Markets Authority ("ESMA") updated its Q&A document regarding the implementation of the Market Abuse Regulation ("MAR").

The Cyprus Securities and Exchange Commission ("CySEC") hereby notifies in summary the changes introduced in relation to Passporting Issues and the provision of investment services and activities by third country firms.

The European Securities and Markets Authority ("ESMA") issued final guidelines on data transfer between Trade Repositories ("TRs") authorised under the European Market Infrastructure Regulation ("EMIR").

The Cyprus Securities and Exchange Commission ("CySEC") would like to inform all interested parties about the authorisation of Data Reporting Service Providers.

The European Securities and Markets Authority ("ESMA") published its first three opinions on position limits regarding commodity derivatives under the Market in Financial Instruments Directive and Regulation ("MiFID II/MiFIR").

The European Banking Authority ("EBA") published an Opinion following the notification by the Finnish Financial Supervisory Authority ("FIN-FSA") of its intention to modify capital requirements in order to address an increase in macroprudential risk, based on Article 458 of the Capital Requirements Regulation ("CRR").

The Financial Conduct Authority ("FCA") wishes to inform those firms that need to submit complete applications for authorisations or variations of permissions, under MiFID II, by 3 July 2017 in order to be sure of having the necessary permissions by 3 January 2018.

We would like to inform you that the House of Representatives voted on 14 July 2017 an extension to the definition of "Cyprus tax resident" for individuals.

EBA published (i) its final draft regulatory technical standards ("RTS") on the information applicants shall provide to competent authorities when applying for authorisation as credit institutions, and (ii) its final draft implementing technical standards ("ITS") related to the templates to be used for the provision of such information.

ESMA issued final Regulatory Technical Standards ("RTS") regarding the aggregation and publication of derivatives data by trade repositories ("TR"s).

The European Central Bank ("ECB") presents the indicators about the use of Euro globally.

The Cyprus Securities and Exchange Commission ("CySEC") wishes to inform regulated entities about the Commission Delegated Regulation with regards to regulatory technical standards.

The European Union’s attempt at creating a single rulebook covering financial-market activities and services is slated to take effect on Jan 3, 2018. The legislation replaces the decade-old Markets in Financial Instruments Directive, or MiFID.