About the Regulatory Blog and our contributors
The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Anguilla, Bermuda, Cyprus, and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.
Resources
Welcome to our Regulatory Resources Hub, a centralised guide to the core laws and compliance frameworks shaping financial services in leading jurisdictions. Here, you’ll find concise summaries and direct access to key legislation from the British Virgin Islands, Bermuda and Cayman Islands. Whether you’re navigating licensing requirements, AML obligations, or governance standards, this section is designed to help you stay informed and compliant with ease.
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ESMA finalises rules for open-ended loan-originating AIFs
The European Securities and Markets Authority, in October 2025, published its final draft Regulatory Technical Standards for open-ended loan-originating Alternative Investment Funds under the AIFMD. These standards focused on liquidity management, stress testing and redemption policies for open-ended AIFs.
27 Feb 2026
ESMA outlines key technical requirements under MiCA
At the end of last year, the European Securities and Markets Authority issued a statement in relation to the technical specifications to support the smooth implementation of Markets in Crypto-Assets standards. Key highlights include:
20 Feb 2026
ESMA guidance on MiCA transitional periods: What CASPs and investors need to know
The European Securities and Markets Authority recently issued guidance regarding the transitional periods under the Markets in Crypto-Assets Regulation. These transitional measures allow crypto-asset service providers operating before 30 December 2024, to align with MiCA requirements. However, Member States may choose to limit or forgo these transitional periods to enhance financial stability and investor protection.
13 Feb 2026
Cross-Border fund marketing: ESMA's findings report
On 6 January 2025, the European Securities and Markets Authority published its third report on the marketing requirements and communications under the Regulation on cross-border distribution of funds. This report, for the first time, includes statistical insights into cross-border fund marketing notifications, offering a comprehensive overview of the regulatory landscape and its practical implications.
26 Jan 2026
Enhancing proportionality and consistency in investment firms’ prudential rules
The European Banking Authority and the European Securities and Markets Authority recently issued a joint report recommending targeted revisions to the Investment Firms Regulation and Directive. This follows a Call for Advice from the European Commission to assess the prudential framework for investment firms.
15 Jan 2026
ESMA's second consolidated sanctions (enforcement) report: Key insights
On 16 October 2025, the European Securities and Markets Authority released its second consolidated report on sanctions and measures imposed in Member States for 2024. Here are the highlights:
07 Jan 2026
ESAs designate critical ICT third-party providers under DORA
On 18 November 2025, the European Supervisory Authorities officially designated critical Information & Communication Technology third-party providers under the Digital Operational Resilience Act. This milestone strengthens the EU's financial sector's operational resilience by ensuring robust oversight of key ICT service providers.
29 Dec 2025
Crypto-Assets: Key warnings to EU consumers
On 6 October 2025, the European Supervisory Authorities issued a warning about the risks of crypto-assets. While the EU's new Markets in Crypto-Assets Regulation provides some safeguards, the crypto market encompasses a wide range of assets that remain volatile, complex and prone to scams.
12 Nov 2025
ESMA’s investor alert: Risks of CASPs offering unregulated crypto products
On 11 July 2025, the European Securities and Markets Authority issued a warning to investors about the risks associated with unregulated products offered by regulated crypto-asset service providers. This "halo effect" can lead to confusion, as clients may mistakenly believe that all products and services offered by a regulated CASP are protected under the Markets in Crypto-Assets Regulation.
22 Oct 2025
ESMA reviews Malta’s MiCA authorisation standards
On 10 July 2025, the European Securities and Markets Authority published a peer review on the Malta Financial Services Authority's authorisation of Crypto Asset Service Providers under the Markets in Crypto-Assets Regulation.
15 Oct 2025
CySEC highlights ESMA’s survey on AI adoption in the Securities Sector by financial entities
On 3 June 2025, the Cyprus Securities and Exchange Commission issued Circular C709 informing Regulated Entities that the European Securities and Markets Authority’s has launched a survey to evaluate Artificial Intelligence adoption by financial entities within the Securities Sector. This survey is voluntary and open for entities regulated by national competent authorities or directly supervised by ESMA.
11 Jul 2025
CySEC adopts EU guidelines on management suitability for crypto firms
On 28 March 2025, the Cyprus Securities and Exchange Commission (CySEC) announced the adoption of the joint guidelines issued by the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) on the suitability assessments of members of the management body of issuers of asset-referenced tokens (ARTs) and crypto-asset service providers (CASPs).
06 Jun 2025