In a significant step to combat financial crime, the European Union has introduced a comprehensive set of regulations designed to enhance its anti-money laundering (AML) and counter-terrorism financing (CFT) efforts. Published on June 19, 2024, this reform package marks a...
In a recent announcement, the Cyprus Securities and Exchange Commission (CySEC) shared its focus areas for 2024, aiming to guide and support regulated entities through evolving regulatory landscapes. As trusted advisors, FiveComply seeks to unpack these priorities for our...
On 20 February 2024, the Council of the European Union made a significant decision to remove Bahamas, Belize, Seychelles, and Turks and Caicos Islands from the list of non-cooperative jurisdictions for tax purposes. This update brings the EU list to comprise 12 jurisdictions...
In a pivotal move, the European Securities and Markets Authority (ESMA) has unveiled two Consultation Papers addressing crucial aspects of the Markets in Crypto Assets Regulation (MiCA). This comprehensive initiative seeks public input on guidelines related to reverse...
The European Commission via the issuance of the Commission Delegated Regulation 2024/163/EU has enacted important changes to the list of third-country jurisdictions with strategic deficiencies in their AML/CFT regimes. This update focuses on the removal of Jordan and the...
As 2023 draws to a close, Cyprus’ regulatory landscape witnesses a transformative shift with the unveiling of Law 98(I)/2023 by the Cyprus Securities and Exchange Commission (CySEC). This amendment revisits and enhances the AML/CFT framework, placing Crypto-Asset...
The Financial Services Authority (FSA) is suggesting reforms comprising changes related to licensees, provisions, and typographical errors to the Securities Act 2007 (SA). It aims to improve how Securities Dealers operate in a controlled and well-regulated manner; It...