Harris Kyriakides offers a comprehensive set of solutions for Anti-Money Laundering (AML) compliance, ensuring a seamless journey through the ever-changing regulatory landscape. Our team of legal and compliance experts provides practical AML Compliance advice on audits, manuals, policies, training, and more. With a proactive, personalised approach, our team tailors our compliance service to your unique business needs, minimising risk and maximising profits whether within or outside the EU.
The School of Law of the University of Nicosia has just published its Annual Review for 2023.
Further to the recent turbulence which arose as a result of the lapse of the deadline for the submission of details of the beneficial owners of companies with the Cyprus Register of Beneficial Owners (the Cyprus UBO Register), the Cyprus Registrar of Companies has issued guidance pursuant to which it provides a final extension of the deadline for the submission of the details of the beneficial owners to the final solution of the electronic Cyprus UBO Register and it decides the repayment of the fines imposed due to the late filings.
In a significant move towards enhancing digital operational resilience in the European Union’s financial sector, the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), and European Securities and Markets Authority (ESMA), also known as the three European Supervisory Authorities (ESAs), have jointly published the first set of final draft technical standards under the Digital Operational Resilience Act (DORA). On 27 December 2022, DORA was published in the Official Journal of the European Union and entered into force on 16 January 2023 and it will apply from 17 January 2025. DORA outlines obligations to be met by financial services firms in the EU to bolster their cyber risk management and operational resilience.
On 20 December 2023, the House of Representatives passed a pivotal legislative amendment, Law Number 167(I) of 2023, bringing significant changes to the legal framework governing the Motor Vehicles' Third Party Liability Insurance Laws of 2000-2021.
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