European Securities and Markets Authority (ESMA): MiCA Roadmap and Timelines

Following the publication of the EU MiCA Regulation in the Official Journal of the European Union (OJEU) on Friday 9th of June, we now have a clear roadmap about the developments of the crypto asset market and its service providers in the EU. MiCA will enter into force on 29...

CySEC adoption of the EBA Guidelines regarding remuneration practices and the gender pay gap and data collection for high earners

  CySEC adopts EBA Guidelines regarding remuneration practices and the gender pay gap in accordance with Directive (EU) 2019/2034 (EBA/GL/2022/07). In addition, the provision of relevant data regarding high earners, i.e. staff member(s) earning a remuneration of at least...

European Commission: Updated list of the high-risk third-country jurisdictions with strategic deficiencies in their AML/ CFT regimes

On May 17th, 2023, the European Commission made important updates to the list of high-risk third-country jurisdictions with strategic deficiencies in their anti-money laundering/countering the financing of terrorism (AML/CFT) regimes. The updated list from the European...

CySEC: Common weaknesses/ deficiencies and good practices identified during the onsite inspections

The Cyprus Securities and Exchange Commission (CySEC) issued Circular C550, informing the regulated entities of the outcome of its onsite inspections conducted during 2021 and 2022. Findings from these inspections evidenced some examples of good practices, although CySEC also...

European Parliament: Final Approval to the EU MiCA Crypto Legislation

The European Union (EU) has voted in favor of the MiCA crypto legislation, making it the first major jurisdiction to introduce a comprehensive crypto law. The legislation aims to protect consumers, safeguard financial stability and market integrity, and provide regulatory...

CySEC: CIFs Risk Based Supervision Framework (the “RBS-F”) Submission for 2022

Cyprus Securities & Exchange Commission (the ‘CySEC’) has issued Circular C563 regarding the Risk Based Supervision Framework (the ‘RBS-F’) – Electronic submission of information for the year 2022 (Form RBSF-CIF) related to the Cyprus Investment Firms. In this respect,...

European Parliament: MiCA Crypto Assets Regulation to be discussed on 18 April 2023

The European Union’s (EU) proposed Markets in Crypto Assets (MiCA) is on the EU parliament agenda to be discussed on the 18th of April. If everything goes smoothly, MiCA regulation will be officially approved by the EU parliament on April 19th. The MiCA regulatory package is...