cyprus
The Regulatory Playbook: Dubai Did It First, But Cyprus Can Still Do It Best
- Cyprus can modernise its fintech rules by adapting Dubai's proven playbook—without breaking EU law or compromising investor protection.
- Rolling reviews, real-time data, and risk-based licensing could cut delays and boost innovation in Cyprus without clashing with EU regulations.
Monday, 05/05/2025 | 09:21 GMT by
Nikolas Xenofontos
CySEC Identifies “Areas for Improvement” in Sanctions Screening for Regulated Entities
- Inspections focused on compliance with UN, EU, US, and UK sanctions lists, identifying best practices.
- The Commission emphasizes the importance of internal policies and tools for effective sanctions compliance.
Thursday, 27/02/2025 | 11:08 GMT by
Tareq Sikder
“It’s All About Ensuring You Face Safe Counterparties”: What Will Be the Future of FX?
- The fourth edition of Dealers Connect 4.0 brought the FX industry together in Cyprus.
- One of the discussion at the event was on how trading desks have moved forward, while the other was on future of trading platforms.
Wednesday, 12/02/2025 | 09:59 GMT by
Elina Pedersen
Cyprus Investment Vehicles Decline 4% as AUM Contracts to $9.1B
- Cyprus's fund industry experiences dual contraction, with assets under management falling 2.5% in Q3 2024.
- The number of regulated entities also decreased to 323, indicating ongoing industry consolidation.
Wednesday, 12/02/2025 | 08:09 GMT by
Damian Chmiel
CySEC Proposes Initiatives to Attract Start-ups and Bonds to Cyprus Stock Exchange
- A roundtable discussed proposals for tax reductions, and infrastructure improvements.
- Marketing campaigns and cooperation were suggested to attract global investors to the CSE.
Wednesday, 29/01/2025 | 11:29 GMT by
Tareq Sikder
CySEC Regulates 825 Firms, with 70 More Awaiting Authorization, Says Theocharidis
- Dr. George Theocharidis, the Chairman of the Cypriot regulator, commented on the institution's future plans.
- Cyprus positions itself as a digital finance hub as new EU regulations DORA and MiCA take effect in 2025
Monday, 13/01/2025 | 08:50 GMT by
Damian Chmiel
FTX EU Acquisition in Jeopardy? Backpack Does Not Have Court Approval
- According to FTX, Backpack is indirectly acquiring the Cypriot unit from former FTX employees who still do not own the division.
- Backpack also lacks authorisation to distribute funds to stressed FTX customers.
Thursday, 09/01/2025 | 05:58 GMT by
Arnab Shome
Exclusive: Deriv Opens Second Office in Cyprus, Targets Tech Talent for Fintech Expansion
- The company opens a new innovation hub in Nicosia to strengthen its European presence and drive fintech innovation.
- The expansion aims to attract top talent in trading and technology, focusing on AI and advanced trading solutions.
Monday, 16/12/2024 | 22:01 GMT by
Damian Chmiel
From 2025, CySEC Will Tighten Grip on Investment Firm Capital
- The regulator adopts EBA guidelines on group capital tests for CIFs, effective January 2025.
- Despite potential flexibility in capital requirements, it increases regulatory scrutiny for Cyprus-based FX/CFD companies.
Tuesday, 22/10/2024 | 07:38 GMT by
Damian Chmiel
Exclusive: CFDs-Heavy Cyprus' Compliance and Legal Heads Are Earning Six Figures
- Finance Magnates exclusively gained access to a Cyprus-focused salary survey report by Emerald Zebra.
- Heads of Compliance in Cyprus earn up to €120,000, while Heads of Legal receive €150,000.
Monday, 14/10/2024 | 10:09 GMT by
Arnab Shome
Cyprus Watchdog Cracks Down on Sloppy AML Reporting, Warns of Sanctions
- CySEC identified weaknesses in reports from regulated entities, including CIFs and crypto providers.
- Areas for improvement include analysis of inspection methods and information on high-risk clients.
Wednesday, 07/08/2024 | 08:29 GMT by
Damian Chmiel
CySEC Multimillion Fines on Bank of Cyprus Officials Overturned after 10 Years
- Cyprus court annuls 2014 fines imposed on Bank of Cyprus, citing a breach of impartiality in the original decision.
- The ruling marks a turn in a long legal battle over the bank's investments in Greek gov bonds.
Monday, 15/07/2024 | 08:47 GMT by
Damian Chmiel
Cyprus Targets Crypto and Non-Profit Organizations in Warning Against Terror Financing
- The Institute of Certified Public Accountants of Cyprus emphasized transaction monitoring and KYC procedures in combating illicit financial flows.
- The targeted areas include charitable and non-profit organizations operating in conflict zones or sanctioned jurisdictions.
Wednesday, 10/07/2024 | 16:34 GMT by
Jared Kirui
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