Category

Regulatory Updates
09
Apr

CySEC Circular C701: Amendments to EBA Guidelines on ICT and Security Risk Management

April 9, 2025
We would like to bring to your attention the recent issuance by the Cyprus Securities and Exchange Commission (CySEC) of Circular C701, dated April 9, 2025, regarding the European Banking Authority’s (EBA) amendment to the Guidelines on ICT and Security Risk Management (EBA/GL/2025/02). These amendments, referred to as the Amended Guidelines, provide clarity on the...
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08
Apr

CySEC Circular C700: New Reporting Obligations under the Digital Operational Resilience Act (DORA)

April 8, 2025
We would like to inform you about the recent issuance by the Cyprus Securities and Exchange Commission (CySEC) of Circular C700, dated April 8th, 2025, regarding the Digital Operational Resilience Act (DORA) and the new Reporting Obligations for regulated entities. This Circular outlines critical reporting requirements that regulated entities must adhere to in relation to...
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02
Apr

Introducing ProtectEU: The EU’s New Internal Security Strategy

April 2, 2025
On April 1, 2025, the European Commission introduced ProtectEU, a new internal security strategy designed to reinforce the European Union’s collective ability to respond to a rapidly evolving threat landscape. From hybrid threats and cyberattacks to organized crime and terrorism, ProtectEU sets a forward-looking agenda to ensure the safety and resilience of EU Member States...
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28
Mar

EBA Q&A Update – Template Specific Instructions for DORA Reporting: Key Clarifications

March 28, 2025
The European Banking Authority (EBA) has released a series of clarifications related to the Digital Operational Resilience Act (DORA). These updates, issued on March 28, 2025, focus on specific data fields in the reporting templates required under DORA, helping financial entities navigate the reporting process with more precision. Below are the key Q&As covered in...
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15
Feb

ISO 27001:2022 – Transition to the Updated Information Security Standard by 31st October 2025

February 15, 2025
The ISO/IEC 27001:2022 standard for Information Security Management Systems (ISMS) was released in October 2022, with a mandatory transition deadline of 31st October 2025. This update introduces significant changes to enhance alignment with modern business practices and evolving cybersecurity threats. Why the Update Was Necessary As organizations increasingly rely on digital services, the landscape of...
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17
Jan

DORA Comes into Play: Enforcing New ICT Requirements and Risk Management Standards

January 17, 2025
Today, the Digital Operational Resilience Act (DORA) officially came into force, marking a significant shift in the way financial entities across the European Union (EU) manage their information and communication technology (ICT) risks. As one of the most important regulatory developments in recent years, DORA aims to strengthen the operational resilience of the EU financial...
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10
Dec

Circular C668: Workshop about the preparation of the register of information under the Digital Operational Resilience Act

December 10, 2024
The Cyprus Securities and Exchange Commission (the “CySEC”) on December 10th, 2024, issued Circular C668, regarding the workshop on preparing the register of information under the Digital Operational Resilience Act (the “Circular”). Following the issuance of the Circular, CySEC wishes to inform Financial Entities* of an upcoming workshop initiated by the European Supervisory Authorities (ESAs)...
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18
Nov

Upcoming Deadline for DORA Compliance: Prepare Your Registers of Information

November 18, 2024
The European Supervisory Authorities (ESAs) have announced critical timelines for financial entities to submit their registers of information on contractual arrangements with ICT third-party service providers, as required under the Digital Operational Resilience Act (DORA). Key Information Submission Deadline: Financial entities must ensure their registers of information are prepared and submitted to competent authorities ahead...
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01
Aug

European Artificial Intelligence Act Enters into Force

August 1, 2024
August 1st marks a significant milestone with the implementation of the European Artificial Intelligence Act (AI Act), the world’s first comprehensive regulation on artificial intelligence (AI). This landmark legislation ensures that AI developed and used in the European Union (EU) is trustworthy, safeguarding fundamental rights. The AI Act aims to establish a unified internal market...
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25
Apr

Circular C639: Voluntary Dry Run Exercise to prepare industry for the next stage of Digital Operational Resilience Act (DORA) implementation

April 25, 2024
The Cyprus Securities and Exchange Commission (the ‘CySEC’) on April 24th, 2024 issued Circular C639, regarding the Voluntary Dry Run Exercise to prepare industry for the next stage of Digital Operational Resilience Act (DORA) implementation (the ‘Circular’). Through this Circular, CySEC wishes to notify Regulated Entities* about the upcoming voluntary exercise initiated by the European...
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