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.
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Guidance on fractional exposure in shares: Key takeaways from CySEC circular
On 26 September 2024, the Cyprus Securities and Exchange Commission issued a circular addressed to Cyprus Investment Firms providing essential guidance regarding the provision of services in relation to fractional shares under the Investment Services and Activities and Regulated Markets Law 2017, in line with EU Directive 2014/65.
30 Oct 2024
CySEC updates on transitional measures for crypto-asset providers and local CASP regime
On 17 October 2024, the Cyprus Securities and Exchange Commission (CySEC) issued a statement informing the public that it will no longer accept new applications from crypto-asset service providers (CASPs) in the context of the local CASP registration regime under the Prevention and Suppression of Money Laundering and Terrorist Financing Law 2007 (the Local CASP Regime).
21 Oct 2024
New amendments to Cyprus Money Laundering Prevention Directive 2024
On 5 August 2024, the Cyprus Securities and Exchange Commission published CySEC Directive R.A.D 282/2024 which amends the CySEC Directive for the Prevention and Combating of Money Laundering and Terrorist Financing 2020. These changes are aimed at enhancing the framework for preventing money laundering and terrorism financing in the Republic of Cyprus.
20 Sep 2024
CySEC launches Regulatory Sandbox for FinTech and RegTech innovations
On 11 June 2024, the Cyprus Securities and Exchange Commission launched its Regulatory Sandbox, which offers a platform for testing new technologies in a controlled environment and promoting innovation in financial and regulatory services.
07 Aug 2024
CySEC announces new requirement for Crypto-Asset Service Providers
On 30 July 2024, the Cyprus Securities and Exchange Commission issued Circular 654 addressed to CIFs, AIFMs, and UCITS Management Companies intending to offer crypto-asset services and providing an update following Circular 648.
02 Aug 2024
CySEC mandatory survey for regulated entities active in crypto-assets
On 26 June 2024, the Cyprus Securities and Exchange Commission issued Circular 648 informing regulated entities about the notification procedure under Article 60 of Regulation 1114/2023 on markets in crypto-assets.
10 Jul 2024
CySEC's electronic submission requirement for Risk Based Supervision Framework
On 14 May 2024, the Cyprus Securities and Exchange Commission published Circular 642, on the electronic submission of information for the year 2023 under the Risk Based Supervision Framework.
05 Jun 2024
Cyprus regulators publicise Article 5r reporting guidance issued under EU Council Regulation 833/2014
In a key development towards supporting financial transparency, the European Commission, on 12 April 2024, issued a set of FAQs explaining reporting obligations under Article 5r of EU Council Regulation 833/2014, ie the EU’s set of trade sanctions on Russia. This anticipated EU guidance has been met with significant attention, particularly from entities navigating the details of compliance amidst heightened regulatory scrutiny.
02 May 2024
Streamlining licensing for Cyprus Investment Firms – MiFID II and MiCA
At present, Cyprus-based crypto exchanges that wish to provide services both in relation to spot crypto products and financial instruments such as crypto derivatives are subject to dual-licensing under the local AML legislation and the traditional investment services regime implementing EU Directive 2014/65/EU. The Cyprus Securities and Exchange Commission administers both regimes.
25 Apr 2024