Compliance with EU Regulation 2022/2554 on DORA: Cyprus Ministry of Finance assigns key competent authorities
30 Oct 2025
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On 14 August 2025, the Cyprus Ministry of Finance (MoF) has formally determined the competent authorities which would be responsible to ensure compliance with Regulation (EU) 2022/2554 on Digital Operational Resilience for the Financial Sector (DORA) on the basis of the Regulatory Administrative Act 252/2025 (RAA 252/2025).
Under the RAA 252/2025, the relevant competent authorities are:
A) The Registrar of Occupational Retirement Benefit Funds responsible for the supervision of:
- occupational pension institutions
B) The Superintendent of Insurance responsible for the supervision of:
- Cypriot insurance and reinsurance undertakings
- insurance and reinsurance mediators who have Cyprus as their member state
- Cyprus mediators engaged in insurance mediation as a secondary activity
C) The Cyprus Securities and Exchange Commission (CySEC), responsible for the supervision of:
- Cyprus investment firms (CIFs)
- crypto-asset service providers (CASPs) licensed by CySEC
- issuers of asset-referenced tokens (ARTs) licensed by CySEC
- central securities depositories licensed by CySEC
- central counterparties established in Cyprus
- trading venues in Cyprus
- Cyprus alternative investment fund managers
- crowdfunding service providers licensed by CySEC
- management companies licensed by CySEC
- performance of the functions of the relevant competent authority as provided in Article 19 of DORA concerning central securities depositaries licensed or supervised by both CySEC and the Central Bank of Cyprus (CBC)
D) The CBC responsible for the supervision of:
- credit institutions, including the ones providing crypto-asset services after notification to the CBC
- issuers of ARTs with reference to assets which are credit institutions
- trading venues of Cyprus that are credit institutions
- payment institutions (PIs), including exemptions as well as those authorised by CBC to provide crypto asset services or to issue ARTs.
- electronic money institutions (EMIs), including exemptions as well as EMIs providing crypto asset services following notification by CBC and ARTs that are EMIs.
- account information service providers
- central securities depositories licensed by CBC providing banking-type ancillary services
- performance of the functions of the relevant competent authority as provided in Article 19 of the Regulation, for entities jointly supervised with CySEC
These supervisory assignments ensure that every part of the financial sector in Cyprus – from banks and insurers to pension funds, investment firms, and crypto providers – has a clear regulator overseeing its compliance with DORA.
The RAA 252/2025 can be found (in Greek) here
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