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...
In a significant move to enhance regulatory practices within Cyprus’ financial sector, the Cyprus Securities and Exchange Commission (CySEC) has recently issued two essential circulars, C603 and C604. These circulars provide detailed guidelines and directives to ensure strict...
The Cyprus Securities and Exchange Commission (CySEC) introduced Circular C601 on October 12, 2023, marking a significant shift in client onboarding practices for various financial entities. Applicable to Cyprus Investment Firms (CIFs), Administrative Service Providers (ASPs),...
In light of Circular No: C602 recently issued by the Cyprus Securities and Exchange Commission (CySEC) concerning the Spanish National Securities Market Commission’s (CNMV) Resolution of 11 July 2023 on product intervention measures relating to Contracts for Differences...
On 28th September 2023, the European Union underscored its commitment to global financial stability by strengthening its measures against money laundering, terrorist financing, and proliferation financing. This significant step forward was achieved through the amendment of...