The Cyprus Securities and Exchange Commission ("CySEC") wishes to herein remind the Regulated Entities of the requirements under the Regulation (EU) 2015/2365.

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

Increase of the personal income tax deduction for life and medical insurance premiums, social insurance, pension and provident fund and GHS contributions.

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

We would like to inform you that as per the Decree No. 422/2019 published on the official Gazette of the Republic, the public interest rate imposed on any overdue or refundable taxes has been decreased from 2% per annum to 1.75% per annum.

The European Securities and Markets Authority ("ESMA") has published its findings on potential undue short-term pressures in securities markets. 

The European Insurance and Occupational Pension Authority ("EIOPA") launched a consultation on guidelines on Information and Communication Technology ("ICT") security and governance. 

The European Supervisory Authorities ("ESAs") published joint draft Regulatory Technical Standards ("RTS") to amend the Delegated Regulation on the risk mitigation techniques for non-cleared OTC derivatives ("bilateral margining") as well as a joint statement on the introduction of fallbacks in OTC derivative contracts and the requirement to exchange collateral.

The European Banking Authority ("EBA") published its final Guidelines on information and communication technology ("ICT") and security risk management.

The European Insurance and Occupational Pension Authority ("EIOPA") has published its second annual European Insurance Overview.