Updates

The European Securities and Market Authority (ESMA) has published supplementary guidance on the application of the endorsement regime for non-EU credit ratings under the Credit Rating Agencies Regulation ("CRAR").

The European Banking Authority ("EBA") issued a recommendation addressed to the Maltese Financial Intelligence Analysis Unit ("FIAU") after establishing it had breached Union law in relation to its supervision of Pilatus Bank.

Cyprus Securities and Exchange Commission ("CySEC") wishes to inform the Regulated Entities about the requested information by CySEC. 

ESMA has published an opinion which sets out how central counterparties (CCPs) in the EU should consider in their internal risk models the liquidity risk posed by all entities towards which the CCP has a liquidity exposure, such as liquidity providers.

The European Securities and Market Authority ("ESMA") confirmed that the temporary period allowing for a smooth introduction of the use of Legal Identifiers ("LEIs"), originally brought-in in December 2017, will not be further extended and cease in July 2018.

We would like to bring to your attention that the Temporary Tax Assessment for the tax year 2018 is approaching.

Extension to the deadline for the submission of personal income tax returns and final tax payment for 2017.

K. Treppides & Co. Limited and its subsidiary Companies (‘we’ or ‘us’ or ‘our’ or ‘Group’) gather and process your personal information in accordance with this privacy notice and in compliance with the relevant data protection Regulation and laws. This notice provides you with the necessary information regarding your rights and our obligations, and explains how, why and when we process your personal data.

K. Treppides & Co Ltd in association with the Cyprus Chamber of Commerce and Industry, and the Cyprus Russian Business Association are organizing a half-day conference with subject "Funds & Cryptocurrencies: The Development and the Technology" on Thursday, 14 June 2018 from 9:00 a.m. - 15:00 p.m. at Four Seasons Hotel in Limassol.

The Financial Conduct Authority ("FCA") is consulting on new guidance outlining factors financial services firms should consider under the Consumer Rights Act 2015 ("CRA") when drafting and reviewing variation terms in their consumer contracts.

We would like to inform you that your Global Regulation partner, K. Treppides & Co Ltd, is participating in the iFXEXPO International 2018 and we would be delighted to welcome you at our booth #45.

The Cyprus Security and Exchange Commission ("CySEC") wishes to inform the Administrative Services Providers ("ASPs") for the information requested by CySEC.

We would like to inform you that as from the 1st June 2018 the payment of the below mentioned taxes to the Cyprus Tax Department, whether imposed through an assessment issued by the Cyprus Tax Department or through a selfassessment of the taxpayer, and which do not bear interest and penalties, will be made only electronically through JCCsmart.

The European Securities and Market Authority ("ESMA") has updated the use of Legal Entity Identifier ("LEI") under the Markets in Financial Instruments Directive ("MiFID II").

We would like to inform you that the Tax Department of the Republic of Cyprus has announced on 25 April 2018, that the Circular No. 198, regarding the Yacht Leasing Scheme has been withdrawn.

The Cyprus Security and Exchange Commission ("CySEC") wishes to inform the Cyprus Investment Firms about the changes concerning Form. 

The Joint Committee of the European Supervisory Authorities published its latest report on risks an vulnerabilities which identified to following risks as potential sources of instability.

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

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.

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.

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.

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"). 

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. 

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.

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").

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").

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.

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.

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.

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.