In response to the need for heightened oversight of financial transactions involving entities associated with Russia, a new regulation, Article 5r, has been enacted. Effective as of May 1, 2024, this regulation imposes reporting obligations on legal entities, organizations, and bodies within the European Union (EU) whose ownership structures have connections to Russia.

As part of its ongoing efforts to strengthen sanctions against Russia and prevent the circumvention of export bans, the EU has introduced legal provisions, such as the 'no re-export to Russia' clause, effective as of 20 March 2024.

In light of increased complaints regarding unsolicited SMS and email advertising messages, the Cyprus Commissioner for Personal Data Protection (the Commissioner) affirms the legal requirements for businesses engaging in direct marketing communication.

The Ministry of Finance has recently unveiled an initiative aimed at aiding individuals and entities impacted by the 2013 banking crisis in Cyprus.

Join Harris Kyriakides at the Career & Business Expo 2024 by UCY Career Center.