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Amendment to the Takeover Bids Law, 41(I)/2007
Corporate and Commercial Law, European Union Law
In line with Article 119 of EU Directive 2014/59, the new amendment to the Takeover Bids Law [41(I)/2007] and particularly new Section 15A states that Section 13(1) of the basic law on mandatory takeover bids shall not apply in the case of use of resolution tools, powers and mechanisms provided for in Title IV of Directive 2014/59/EU. read more
The Investment Services and Activities and Regulated Market (Amendment) Law of 2014
Banking and Secured Financing, European Union Law

On December 4, the Investment Services Law, 144(I)/2007, was amended for purposes of harmonisation with EU Directive 2013/36 “on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms”, and EU Regulation 576/2013 “on prudential requirements for credit institutions and investment firms”.

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The Securities and Exchange Commission (Amendment) Law of 2014
Corporate and Commercial Law, European Union Law

The Cyprus Securities and Exchange Commission Law [73(I)/2009, 5(I)/2012] was amended in order to clarify that the Securities and Exchange Commission (“The Commission”) shall be designated as the competent supervisory authority for the following issues that derive from EU legal acts:

• short selling and certain aspects of credit default swaps;
• over-the-counter (OTC) derivatives, central counterparties and trade repositories
• credit rating agencies;
• European venture capital funds;
• European social entrepreneurship funds.

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The Currency (Counterfeiting and Other Related Matters) (Amendment) Law of 2012
Banking and Secured Financing, European Union Law
Harmonisation of domestic legislation with EU Acquis on the powers of European Supervisory Authorities and the exchange of information with Cypriot Regulators of the Banking and Capital Markets sectors
Banking and Secured Financing, Capital Markets, European Union Law
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