Newsletters


October
2020

The European Securities and Markets Authority ("ESMA"), the EU securities markets regulator, confirms that the 2019 Guidelines on stress test scenarios under the Money Market Funds Regulation ("MMFR") will be updated in 2020 to include a modification of the risk parameters to reflect recent market developments related to the COVID-19 crisis.

October
2020

The European Banking Authority ("EBA") published 12 indicators and updated the underlying data from the 37 largest institutions in the EU, whose leverage ratio exposure measure exceeds EUR 200 billion.

October
2020

Due to COVID-19 outbreak, European Insurance and Occupational Pensions Authority ("EIOPA") is carrying out extraordinary calculations every two weeks to monitor the evolution of the relevant risk-free interest rate term structures ("RFR") and the symmetric adjustment to equity risk ("ED"A).

October
2020

The European Securities and Markets Authority ("ESMA"), the EU’s securities markets regulator, has published twelve opinions on position limits regarding commodity derivatives under the Markets in Financial Instruments Directive and Regulation ("MiFID II/MIFIR").

October
2020

Following Circular C373 issued on March 31, 2020, with regards to the reporting/notification deadlines amid the impact of COVID-19, CySEC wishes to inform CIFs that the deadline regarding the submission of the COREP forms based on the audited financial statementsis further extended until 31 August 2020.

October
2020

Following Circular C211 on the "Expansion of CySEC Portal to include CIF Record Content", which requires CIFs to submit to the Cyprus Securities and Exchange Commission ("CySEC"), via the CIF Record, data relevant to their services and/or activities, CySEC wishes herein, to remind CIFs on the implementation of the CIF Record and to inform them on the actions that should further be taken with regards to this matter.

October
2020

The Cyprus Securities and Exchange Commission ("CySEC"), wishes with this Circular, to inform the Regulated Entities regarding the Covid19- related Money Laundering and Terrorist Financing Risks and the Policy responses of FATF.

October
2020

Further to our direct taxation newsletter issue 06/2020, we would like to inform you that the Minister of Finance has granted an additional extension to the deadline for submission of the Income Tax Returns (T.D.1) and payment of final tax for the tax year 2019, from 30 October 2020 to 30 November 2020.

October
2020

We would like to inform you that the Cyprus Tax Department (“CTD”) has announced that the 2019 personal Income tax Return (T.D.1 form), for employees and self-employed individuals with no requirement to prepare audited financial statements, is now available for submission through TaxisNet system.

October
2020

In August 2020, Cyprus and Russia concluded the negotiations of a new protocol to amend the existing provisions of the Cyprus – Russia Double Tax Treaty (DTT). The new Protocol was signed on 8 September 2020 in Nicosia and has been published in the Government Gazette on 11 September 2020.

Publications


FEBRUARY ICAS Newsletter - Issue 07/2021
The European Banking Authority ("EBA") published its final draft Implementing Technical Standards ("ITS") on the disclosure of indicators of global...
22 February 2021
FEBRUARY ICAS Newsletter - Issue 06/2021
The Cyprus Securities and Exchange Commission ("the CySEC") wishes with the present, which is issued pursuant to paragraph 37A of...
17 February 2021
FEBRUARY ICAS Newsletter - Issue 05/2021
With the entry into force of the Investment Firms Regulation (EU) 2019/2033 ("IFR") and Investment Firms Directive (EU) 2019/2034 ("IFD")...
08 February 2021
JANUARY ICAS Newsletter - Issue 04/2021
The European Insurance and Occupational Pensions Authority ("EIOPA") published the second paper in a series of papers on the methodological...
01 February 2021
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