Insights
Insightful Perspectives with Meaningful Impact
Cyprus updates legislation on recovery and resolution of credit institutions and investment firms
Introduction The Cyprus House of Representatives has approved two legislative amendments to align national laws with EU directives on the recovery and resolution of credit institutions and investment firms. These developments are part of a - Read More...
Parliament has passed the new framework for credit managers and credit purchasers to align with European Directive 2021/2167
By a majority vote, Parliament has enacted a legislative package to align national law with European Directive 2021/2167, which establishes a unified framework for credit servicers and purchasers. The legislation aims to facilitate the creation - Read More...
Ensuring GDPR compliance: managing vendor and third-party risks for companies in Cyprus
This article analyses the importance of continuous GDPR compliance through effective due diligence and robust contractual agreements.
NIS2 Directive: A new era in cybersecurity compliance
The NIS2 Directive (Directive (EU) 2022/2555) is a comprehensive cybersecurity regulation aimed at strengthening the resilience of critical infrastructure across the EU. It expands on the original NIS Directive, widening its scope, imposing stricter security - Read More...
Supreme Court Directive on adjudication of claims related to credit facilities
The Supreme Court issued a directive on July 26, 2024, stating that for cases arising from or related to credit facilities, a relevant notice must be submitted to the registry of the court where the - Read More...
Judgment of the Court of Appeal regarding trapped buyers
The judgment addresses whether the decision of the Director of the Land Registry to transfer the property in the name of a trapped buyer and release the mortgage is consistent with the Constitution.
Introduction of the the EU AI Act
The EU’s new AI Act establishes a set of comprehensive rules for the regulation of AI, aiming to safeguard fundamental rights and ensure ethical AI use within Europe and beyond.
Judgment of the Court of Appeal regarding the amount due and interest on Notice type IA
The judgment deals with the content of Notice type IA in relation to the specification of the amount due and the interest.
New EU rules and reporting requirements on Emissions Trading System in the Aviation sector
The new Aviation Emissions Amending Directive (2023) will introduce new rules and reporting requirements on the Emissions Trading System in the Aviation sector, with potential effects on airline operators that provide transport and logistics services - Read More...
Latest Developments in Banking Law
On 26th June 2024, Harris Kyriakides successfully hosted the seminar titled “Latest Developments in Banking Law.”
Injunctions suspending demands on performance bonds and bank guarantees
Performance bonds and bank guarantees are vital in ensuring smooth commercial operations. They act as safeguards for parties engaged in business, particularly in industries like construction and contracting. These bonds assure that obligations will be - Read More...
Financial charges announced in relation to the Register of Beneficial Owners
The Department of the Registrar of Companies and Intellectual Property (TEEDI) has announced the imposition of financial charges in regard to the Register of Beneficial Owners.