The Cyprus Securities and Exchange Commission (CySEC) has outlined key aspects of the implementation of the Digital Operational Resilience Act (DORA), a European regulatory framework designed to enhance the cybersecurity and operational resilience of the financial sector. Overview of DORA DORA establishes uniform requirements for managing ICT risks across financial entities in the EU. The...Read More
The Markets in Crypto-Assets regulation (EU) 1114 / 2023 entered into force on 29 June 2023. MiCA regulation introduces a comprehensive legislative framework for crypto-assets and related activities and services. Focusing on consumer protection, market integrity and fostering innovation, this regulation seeks to enhance legal clarity, establish compliance standards, and promote investor confidence. As a regulation,...Read More
Relevant to: Regulated Entities[1]Circular C627 (“the Circular”) dated 03/04/2024 is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law (‘the CySEC Law’). Through Circular C627, CySEC wishes to inform Regulated Entities for the obligation to submit the Quarterly Statistics Form. The key takeaways from CySEC’s C627 circular can be found below: A...Read More
CIFs under Cyprus Securities and Exchange Commission (CySEC) REPORTING OBLIGATIONS CALENDAR 2024 The reporting obligations deadlines may be altered upon CySEC’s decisions throughout the year.Read More
Relevant to: Regulated Entities[1]Circular C613 (“the Circular”) dated 05/01/2024 is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law (‘the CySEC Law’). Through Circular C613, CySEC wishes to inform Regulated Entities for the obligation to submit the Quarterly Statistics Form. The key takeaways from CySEC’s C613 circular can be found below: A...Read More
Relevant to: Cyprus Investment Firms (CIFs)Circular C612 (“the Circular”) dated 22/12/2023 is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law (‘the CySEC Law’). Through Circular C612, CySEC wishes to inform to inform all CIFs that ESMA on the launch of the exercise for the collection of data regarding cross...Read More
Relevant to: Cyprus Investment Firms (‘CIFs’)Circular C611 (“the Circular”) dated 22/12/2023 is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law (the ‘CySEC Law’). Through Circular C611, CySEC wishes to inform all CIFs for the obligation to submit the Quarterly Statistics Form. The key takeaways from CySEC’s C611 circular can be...Read More
DECEMBER 9 2023. The EU becomes the very first continent to set clear rules for the use of AI. The AI Act shall facilitate EU start-ups and researchers to lead the global AI race. EU legislators agreed on a two-tier approach, with (1) transparency requirements for all general-purpose AI models (such as ChatGPT) and (2)...Read More
UK Investment advisers will be soon required by Financial Conduct Authority to set aside money to cover the cost of potential redress schemes that would ensure the “polluter pays” when consumers are harmed. The Financial Conduct Authority (FCA) wants the financial advice market to make sure consumers can access the support they need from financially...Read More
