Updates


November
2021

The European Banking Authority (EBA) published an Opinion on the treatment of client funds under DGSD, where it assessed the current approaches to the protection of funds deposited with credit institutions on behalf of clients by entities that are themselves excluded from DGS protection.

October
2021

The European Banking Authority (EBA) published its advice to the EU Commission on funding in resolution and insolvency as part of the review of the crisis management and deposit insurance (CMDI) framework.

October
2021

The European Banking Authority ('EBA') published a thematic note on the transition risks of benchmark rates.

October
2021

The European Banking Authority (EBA) published an updated list of indicators for risk assessment and risk analysis tools, together with the accompanying methodological guide.

October
2021

The European Banking Authority (EBA) published its regular monitoring Report of the full implementation, in 2028, of the final Basel III reforms in the EU.

September
2021

The European Commission adopted on 21 April 2021, a comprehensive package of measures to help improve the flow of money towards financing the transitionto a sustainable economy, whereas these measures will be instrumental in reaching climate and environmental targets as well as vital for economic recovery from the COVID-19 pandemic.

September
2021

We would like to inform you that the Minister of Finance has granted a further extension to the deadline for the submission of the 2019 Income Tax Returns, from 30 September 2021 to 30 November 2021.

September
2021

The European Banking Authority (EBA) published a Report on the platformisation of the EU banking and payments sector.

September
2021

We would like to inform you that the Cyprus Tax Department (“CTD”) has announced on 21 September 2021 a further extension to the submission of DAC6 reports without any penalties up to 30 November 2021.

September
2021

The European Banking Authority ("EBA") published its final Guidelines specifying the criteria to assess the exceptional cases when institutions exceed the large exposure limits and the time and measures to return to compliance.

September
2021

If you do a quick search on the internet on how many people have become “Bitcoin Millionaires” you will be inundated with stories of young individuals who invested their pennies some years ago and have now struck it rich. Currently there are over 100,000 accounts that hold US1,000,000 or more in Bitcoin.

September
2021

The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) issued their second joint risk assessment report for 2021.

September
2021
The Cyprus Securities and Exchange Commission (the ‘CySEC’) wishes to inform the Regulated Entities that the European Securities and Markets Authority (the ‘ESMA’) has issued updated Guidelines.
August
2021

The European Banking Authority (EBA) published its peer review on the prudential assessment of qualifying holdings, aiming at assessing competent authorities’ application of the Joint ESAs Guidelines on the prudential assessment of the acquisition of qualifying holdings.

August
2021

The European Banking Authority (EBA) published 12 indicators and updated the underlying data from the 31 largest institutions in the EU.

August
2021

Following Circulars C276 and C219, the Cyprus Securities and Exchange Commission ("CySEC") with the present Circular wishes to inform the Regulated Entities of the Revised EBA Guidelines on customer.

August
2021

We would like to inform you that the Ministry of Finance has granted an extension to the deadline for the payment of the final tax liability, as per submitted tax return for the tax year 2020, from 1 August 2021 to 30 September 2021.

August
2021

The Cyprus Securities and Exchange Commission (the ‘CySEC’) wishes with this Circular to inform Regulated Entities of the following: 

August
2021

The European Banking Authority (EBA) published clarifications to a sixth set of issues that had been raised by participants of its Working Group (WG) on Application Programming Interfaces (APIs) under the Payment Services Directive (PSD2).

July
2021

We would like to inform you that the Cyprus Tax Department (“CTD”) has announced that the 2020 personal Income Tax Return (T.D.1 form), for employees and selfemployed individuals with no obligation to prepare audited accounts, is now available for submission through TaxisNet system.

July
2021

The European Banking Authority (EBA) publishes a Discussion Paper aiming at gathering some preliminary input on how to standardise the proportionality assessment methodology for credit institutions and investment firms. 

July
2021

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

July
2021

The European Banking Authority (EBA) published phase 2 of its 3.1 reporting framework. 

July
2021

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

June
2021

The present Circular is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law of 2009, as amended (‘the CySEC Law’).

June
2021

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published its Annual Report.

June
2021

We would like to inform you that on 1 June 2021, Cyprus and the Netherlands have signed a Double Tax Treaty (DTT) (ratified by Cyprus on 4 June 2021), which is the first of its kind between the two countries.

June
2021

We would like to inform you that on the 17th of May 2021, the Tax Department has issued an Implementing Guideline (15/2021) which provides useful clarifications in relation to the tax treatment of the impact on the financial statements from the application of IFRS 9, IFRS 15 and IFRS 16 for the purposes of the calculation of Income Tax as well as the Deemed Dividend Distribution (DDD) that is subject to Special Defence Contribution (SDC).

June
2021

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA – “ESAs”) published two amended Implementing Technical Standards (“ITS”) on the mapping of credit assessments of External Credit Assessment Institutions (“ECAIs”).

June
2021

We would like to bring to your attention that the deadline for the first temporary tax installment for the tax year 2021 is approaching.

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