We researched and summarised for you, all recent regulatory updates from Cyprus and Europe, which are applicable for Regulated Companies operating in the Region.
We support our clients and associates by providing a comprehensive page with the recent circulars, directives, and guidance issued by the following Regulators:
03/08/2023 - C591 Appointment of an Alternate Director to attend a meeting of the Board of Directors of a CIF
CySEC informs the Cyprus Investment Firms ("CIFs") regarding the circumstances under which, a member of the Board of Directors of a CIF, may appoint an Alternate Director to attend a meeting of the Board of Directors of the CIF in its place, taking into account the provisions of sections 9 and 10 of the Investment Services and Activities and Regulated Markets Law of 2017, as in force ("Law").
03/08/2023 – C592/Technical clarifications concerning Reporting obligation under articles 4(3)(d) and 31(1), (2) and (4) of the Alternative Investment Fund Managers Law (the 'AIFM Law') as further specified with articles 5(3) and 110 of the Commission Delegated Regulation (EU) No 231/2013).
CySEC informs the AIFMs of the AIFMD reporting updated IT technical guidance (2013/1358) (revision 6), which will be applicable from November 2023 onwards. The new IT technical guidance revision 6 (2013-1358 AIFMD Reporting IT Technical Guidance - revision 6) introduces new validation rules making more fields mandatory or with stricter rules to improve data quality. The new changes are specified in the tab 'change history' of the excel document.
23/08/2023 – C594 ESMA launches a Common Supervisory Action ('CSA') with NCAs on the sustainability-related disclosures and the integration of sustainability risks in the Investment Fund Sector.
CySEC informs the Investment Fund Managers that ESMA has launched the 2023 and 2024 Investment Fund Sector CSA on the sustainability-related disclosures and the integration of sustainability risks.
01/08/2023 - Residential Property Price Index CBC published the Residential Property Price Index (RPPI) report for 2023Q1 (in Greek).
Both the quarterly report, which outlines the results of the indices along with the latest real estate market developments, and the relevant time series are available on the following link.
08/08/2023 ECB Consumer Expectations Survey results – June 2023 ECB publishes the expectations about Inflation, Income and consumption, Labour market and Economic Growth and Housing and Credit access.
08/08/2023 - The EBA's recent mystery shopping exercise shows the value this tool adds to the supervisory tasks of national authorities.
EBA published a Report on its mystery shopping exercise into personal loans and payment accounts. The exercise confirmed that mystery shopping is a tool that adds immense value to the supervision of national competent authorities and is complementary to other more conventional tools or approaches. It delivers first-hand information about, and insight into, the conduct of financial Institutions towards consumers visiting a branch or using a digital channel.
08/08/2023 ESMA publishes the latest edition of its newsletter.
The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor, has today published its latest edition of the Spotlight on Markets Newsletter.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.