Regulatory Blog

On 14 August 2025, the Cyprus Ministry of Finance has formally determined the competent authorities which would be responsible to ensure compliance with Regulation 2022/2554 on Digital Operational Resilience for the Financial Sector on the basis of the Regulatory Administrative Act 252/2025.

On 15 September 2025, the French, Austrian, and Italian financial authorities issued a joint letter and press release calling for critical adjustments to the MiCA regulation. These proposals aim to address certain gaps which the regulators state they have identified in the current framework.

On 29 September 2025, the Bermuda Monetary Authority published a letter to stakeholders responding to the public consultation paper entitled “Proposed Enhancements to Public Disclosure Regime: Public Disclosure of Assets and Liabilities for Commercial Long-term Insurers.”

On 6 August 2025, Bermuda hosted key digital finance leaders for two pivotal events: the launch of the Bermuda Stablecoin Association and a Digital Finance Roundtable led by the Ministry of Finance.

On 11 July 2025, the European Securities and Markets Authority issued a warning to investors about the risks associated with unregulated products offered by regulated crypto-asset service providers. This "halo effect" can lead to confusion, as clients may mistakenly believe that all products and services offered by a regulated CASP are protected under the Markets in Crypto-Assets Regulation.

On 4 September 2025, the Court of Justice of the European Union issued a pivotal judgment in Case C-726/23, addressing the VAT implications of transfer pricing adjustments within multinational groups. This decision clarifies the VAT treatment of intra-group transactions and the evidentiary requirements for VAT deductions.

Cyprus has transposed the Corporate Sustainability Reporting Directive into national law, marking a significant step towards enhanced corporate transparency and sustainability. The amendments to the Companies Law, among others, were published in the Official Gazette on 29 July 2025.

On 3 October 2025, the Luxembourg Government introduced Draft Bill No. 8628 to transpose AIFMD II (Directive (EU) 2024/927) into national law.

On 23 September 2025, the Cyprus Securities and Exchange Commission issued Circular C728, drawing attention to the recent amendments to Article 5h of Regulation (EU) 833/2014. These changes significantly expand the scope of restrictive measures against Russia in response to its military aggression against Ukraine.

The EU Advocate General's Opinion in Case C-483/23 sheds light on the application of the EU’s core sanctions regime under Regulation 269/2014 as regards assets placed in trusts by sanctioned individuals.

On 10 July 2025, the European Securities and Markets Authority published a peer review on the Malta Financial Services Authority's authorisation of Crypto Asset Service Providers under the Markets in Crypto-Assets Regulation.

The Cyprus Department of the Registrar of Companies and Intellectual Property recently issued a set of key reminders for all companies, partnerships, and European Public Limited Companies that are subject to reporting obligations with respect to the Beneficial Ownership Register in Cyprus.