We would like to bring to your attention that the Cyprus Tax Department (CTD) has issued an announcement providing clarifications in relation to the recent developments on the withdrawal of the United Kingdom (UK) from the European Union (EU).

The Financial Conduct Authority ("FCA") has published its Business Plan for 2019/20, which outlines the key priorities for the coming year.

The Circular C309 is issued pursuant to section 25(1)(c)(ii) &(iii) of the Cyprus Securities and Exchange Commission Law ("the CySEC Law"). 

The European Securities and Markets Authority ("ESMA") has announced that it has adopted new recognition decisions for the three central counterparties ("CCPs") and the central securities depository ("CSD") established in the United Kingdom ("UK").

The European Securities and Markets Authority ("ESMA") has issued the official translations of its Guidelines on position calculation by Trade Repositories under EMIR.

We would like to bring to your attention that the Cyprus Tax Department (CTD) has issued on 22 March 2019 the Common Circular Number 4 (hereafter “the Circular”), announcing the reactivation of the pleasure yacht leasing arrangement that was previously put on hold as from 25 April 2018.

The Prudential Regulation Authority ("PRA"), Financial Conduct Authority ("FCA") and European Banking Authority ("EBA") announced that they have agreed a template Memorandum of Understanding ("MoU").

The European Banking Authority ("EBA") published its annual Report on the convergence of supervisory practices in the EU.

The European Banking Authority ("EBA") published its final Guidelines specifying how institutions should quantify the estimation of loss given default ("LGD") for conditions of an economic downturn.

The Financial Conduct Authority ("FCA"), has published near-final rules and guidance that will apply in the event the UK leaves the EU without an implementation period.