Updates

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.

We would like to inform you that the Cyprus Tax Department has issued a notification which implements the provisions of the law which will allow taxpayers to arrange payment of any overdue taxes by installments.

The European Securities and Markets Authority ("ESMA") published a consultation paper regarding its draft technical standards specifying the trading obligation for derivatives under the Markets in Financial Instruments Regulation ("MiFIR").

We would like to bring to your attention that the Temporary Tax Assessment for the tax year 2017 is approaching. We urge you to give due consideration to the matter so as to ensure that the payment of the relevant tax liability is performed in a timely manner.

The Cyprus Securities and Exchange Commission ("CySEC") wishes to inform the Regulated Entities about the Risk Based Supervision Framework submission.

We would like to inform you that Ministers and other high-level officials from 76 jurisdictions signed in Paris on 07/06/2017 or formally expressed their intention to sign the multilateral BEPS convention to modify existing double tax treaties in order to swiftly implement a series of tax treaty measures developed in the course of the OECD-G20 BEPS project.

The European Banking Authority ("EBA") published its 2018 EU-wide stress test draft methodology and templates for discussion with the industry.

The Cyprus Securities and Exchange Commission ("CySEC") wishes to inform the Cyprus Investment Firms ("CIF") that the European Banking Authority ("EBA") published a Q&A regarding the 'Country-by-Country reporting requirements.

The European Securities and Markets Authority ("ESMA") issued an opinion regarding the implementation of the Markets in Financial Instruments Directive ("MiFID II") and Regulation ("MiFIR").

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 in Cyprus: An Attractive Jurisdiction" on Thursday, 15 June 2017 from 9:30 a.m. - 15:00 p.m. at Four Seasons Hotel in Limassol.

The European Banking Authority ("EBA") launched a public consultation on its draft Regulatory Technical Standards ("RTS") further specifying the eligibility criteria to determine whether institutions should be subject to simplified obligations when drafting their recovery and resolution plans.