The Whistleblowing Directive: Update on its implementation

In 2018, the European Commission explicitly stated: “Unlawful activities and abuse of law may occur in any organisation, whether private or public, big or small. They can take many forms, corruption, fraud, businesses’ malpractice or negligence. And if they are not addressed, it can result in serious harm to the public interest. People who work […]

Artificial Intelligence and the Administration of Justice

An article which was co-authored by Senior Associate, Christiana Pyrkotou and Associate, Aimilia Efstathiou recently featured in the Cyprus Mail.  In the article they examine the latest EU regulatory proposals concerning the use of Artificial Intelligence(‘AI’) with specific reference to its potential use within the Cyprus judicial system. They explain why such usage might be […]

Elias Neocleous & Co LLC is the ‘Leading law firm in Cyprus’

We are pleased to report that Elias Neocleous & Co LLC has once again been placed firmly at the top of Gold Business Magazine’s prestigious annual list of the ’90 Leading law firms in Cyprus’.  The list is compiled and ordered with regard to the significance of a firm’s contribution to the Cyprus legal sector […]

The EU’s new sustainable finance strategy

The European Commission adopted an ambitious and comprehensive package of measures to help improve the flow of money towards financing the transition to a sustainable economy. The Strategy builds on the ambitious foundations of the Action Plan on Financing Sustainable Growth and comes at a critical point in time for the progress of sustainable finance […]

New e-commerce VAT rules.

A newsletter has been issued by the Tax Department on the new VAT rules relating to cross-border e-commerce (business-to-consumer – B2C). The rules will enter into force from the 01st of July 2021.  The new VAT e-commerce rules aim to put in place a simplified VAT system for businesses which provide services and/or sale of […]

EU seeks to build a Europe that is ‘fit for the digital age’.

The  EU has, in recent years, strongly advocated the need to build a resilient Europe which is fit for the Digital Decade. This picture of Europe is one where people and businesses benefit from artificial intelligence-generated improvements (AI) in industry and in  day-to-day life.   However, also critical to this vision of the future, is an […]

EBA published final draft technical standards specifying the methods of prudential consolidation

The European Banking Authority (EBA) recently published its final draft Regulatory Technical Standards (RTS) specifying the conditions according to which consolidation shall be carried out in line with the Capital Requirements Regulation (CRR). In particular, this initiative has been undertaken according to Article 18(9) of Regulation (EU) No 575/2013 (CRR), which mandates the EBA to […]

Elias Neocleous & Co LLC contributes to prestigious German publication on Insolvency Law

Our firm has contributed to the 4th edition of the reputable German publication ‘’Münchener Kommentar zur Insolvenzordnung- Band 4’’ (Munich Commentary on Insolvency Law – Volume 4). The edition compiles 53 global country reports (including Cyprus) and high calibre insolvency law related commentaries. The EU is fully represented in the country reports, including implementation aspects […]

ESMA proposes rules for Taxonomy-alignment of non-financial undertakings and asset managers

On 1 March, the European Securities and Markets Authority (ESMA), published its Final Report on advice under Article 8 of the Taxonomy Regulation.  Article 8 covers the information to be provided by non-financial undertakings and asset managers to comply with their disclosure obligations under the Non-Financial Reporting Directive (NFRD). The recommendations outline the Key Performance […]

Amendments to EU Slot Regulation casts struggling airlines a lifeline.

On 15 February 2021, the EU adopted an amendment to the ‘Slot Regulation’ (the Regulation) tempering the so-called ‘use it or lose it’ rule.  Slots are essential for airlines at congested or coordinated airports (those where demand exceeds capacity). Without a slot, airlines cannot operate to or from those airports. The number of slots at […]