CySEC issues Circular in relation to prudential treatment of crypto assets and enhancement of risk management procedures associated with crypto assets

CySEC has issued a Circular on 3 August, providing some clarity on the matters of the prudential treatment of crypto assets and enhancement of risk management procedures associated with them, focusing on Cyprus Investment Firms (‘CIFs’). In relation to calculation of own funds and capital adequacy ratio (Pillar I), there still being no reference in […]

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 […]

European Securities and Markets Authority (ESMA) issues Public Statement encouraging better scrutiny of prospectuses relating to Special-Purpose Acquisition Companies (SPACs)

ESMA has recently issued a Public Statement to promote coordinated action by National Competent Authorities (NCAs) regarding the scrutiny of the disclosure included in prospectuses relating to Special-Purpose Acquisition Companies (SPACs), which are approved in accordance with Regulation (EU) 2017/11291 (Prospectus Regulation or PR). ESMA has also issued this statement to draw attention to the […]

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 […]

Cyprus and United Kingdom: The promising Lands? – Services and Opportunities

On 20 April 2021, partner Andrea Kallis participated in the above seminar which was hosted by the Great Britain and Cyprus Business Association.  The seminar addressed the issue of the ongoing relationship between the two countries now that the Brexit transition period has expired. The keynote speaker was Natasa Pilides, Minister of Energy, Commerce and Industry […]

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 […]

ESMA publishes guidelines on periodic information for trade repositories

The European Securities and Markets Authority, the EU’s securities markets regulator, has published its Final report and Guidelines on the reporting of periodic information and material changes by Trade Repositories (TRs) supervised under EMIR (Regulation 648/2012) and SFTR (Regulation 2015/2365). The aim of the Guidelines is to increase the transparency of TRs supervised by ESMA. […]

Cyprus: Keeping Up with the Cyprus Private Client Sector

Elias Neocleous & Co LLC. is pleased to announce that it is organizing a webinar on matters of interest to the Private Client Sector in Cyprus. Elias Neocleous, Managing Partner, Elina Kollatou and Elena Christodoulou, associates at Elias Neocleous & Co LLC, together with Spyros Ioannou, Tax Partner (Head) of Primus Audit & Tax Limited, […]

March 2021: ADIT Examination Success for Elias Neocleous & Co LLC.

Congratulations to our Chief Financial Officer, Alexandra Spyrou, who has successfully completed all stages of the Advanced Diploma in International Taxation (ADIT) examinations. ADIT examinations lead to a professional qualification offered globally by the highly respected UK-based Chartered Institute of Taxation.  This rigorous qualification is designed to improve international tax skills at an individual and […]

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 […]