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...
CJEU Diarra Ruling on FIFA’s Transfer Regulations: Implications for international football and Cypriot clubs
Introduction In October 2024, the Court of Justice of the European Union (the CJEU) issued a ground-breaking judgment regarding FIFA’s Regulations on the Status and Transfer of Players (the RSTP). This ruling is perhaps the - Read More...
Cyprus passes law restricting large cash transactions to strengthen AML efforts
Introduction On 5 December 2024, Cyprus parliament approved a significant piece of legislation aimed at curbing large cash transactions, enhancing the country’s anti-money laundering (AML) framework. The proposal, first introduced on 30 October 2024 by - Read More...
Cyprus Ministry of Interior issues Best Practices Report to combat terrorism financing in non-profit organisations
On 26 November 2024, the Registrar of Associations and Foundations, which is part of the Ministry of Interior, issued a new Best Practices Report providing information on the risks faced by Non-Profit Organisations (NPOs) in - Read More...
Harris Kyriakides advises Petrolina on its acquisition of ExxonMobil Cyprus
Harris Kyriakides advised Petrolina (Holdings) Public Ltd on its landmark acquisition of 100% of the share capital of ExxonMobil Cyprus Limited, a subsidiary of Exxon Mobil Corporation. The transaction remains subject to the approval of - Read More...
Cyprus Parliament approves new framework for beneficial ownership compliance
On 21 November 2024, the Cyprus Parliament approved a landmark amendment to the Prevention and Suppression of Money Laundering Activities Law. The legislation introduces a comprehensive framework for the enforcement of penalties related to beneficial ownership - Read More...
EU seeks to ban “forever chemicals” in consumer products
The European Commission’s new initiative to phase out “forever chemicals” from consumer products marks a significant shift in the European market, impacting industries across various sectors. Background “Forever chemicals”, formally known as per- and polyfluoroalkyl - Read More...
Changes brought about by GDPR: increasing liability for data processors
The General Data Protection Regulation (GDPR) has increased the liability of data processors, imposing direct regulatory obligations and leading to a more complex and accountable data protection regime for both controllers and processors. Background A - 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.
Who’s Who Legal Government 2024
We are pleased to announce that Who’s Who Legal has recognised as a leading practitioner in Government matters in its 2024 edition of WWL: Government.
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...
Court of Justice of the European Union clarifies notarial services in light of Russian Sanctions
On 5 September 2024, the Court of Justice of the European Union delivered a landmark judgment in Case C-109/23, ruling that a notary’s authentication of property sales involving Russian companies does not breach the EU - Read More...