CySEC Urges Regulated Firms To Help Shape New EU AML Rules

The Cyprus Securities and Exchange Commission (CySEC) is encouraging regulated entities to participate in two public consultations launched by the European Anti-Money Laundering Authority (AMLA), as the European Union moves to strengthen and harmonise its anti-money laundering framework.

Covering draft technical standards, the consultations will help shape how suspicious activity is reported and how non-financial businesses are assessed for money laundering and terrorist financing risks across the bloc. For regulated firms, the outcome will define future compliance obligations.

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First Consultation Focuses On Suspicious Transaction Reporting

One consultation concerns the draft Implementing Technical Standards (ITS) under Article 69(3) of Regulation (EU) 2024/1624, which set out the format for reporting suspicious transactions and for submitting transaction records.

CySEC said the draft standards, supporting documents and consultation response form are available on AMLA’s website, with comments accepted until September 20, 2026.

AMLA will also host a public hearing on September 9 from 10:00 a.m. to 12:00 p.m. CEST.

Second Consultation Targets Non-Financial Sector Risk Assessment

Another consultation focuses on draft Regulatory Technical Standards (RTS) under Article 40(2) of Directive (EU) 2024/1640 (AMLD 6). The proposal introduces a common methodology for assessing the inherent and residual money laundering and terrorist financing risks of non-financial obliged entities.

Comments may be submitted until September 27, 2026, while a second public hearing is scheduled for September 10.

According to CySEC, the consultation is particularly relevant for non-financial entities under its supervision, including administrative service providers and crowdfunding service providers.

Toward A Harmonised EU Framework

According to AMLA, the proposed methodology would establish a consistent approach to assessing money laundering risks across all EU member states, allowing supervisors to evaluate comparable businesses using the same standards.

Feedback is also being sought on whether the reporting requirements are proportionate, practical and cost-effective, particularly for smaller organisations. Simplified reporting obligations are proposed for smaller entities, while supervisors would be able to rely on information already available to them instead of requesting duplicate data.

Implementation of the new framework is expected to begin in December 2028, with the first risk assessments under the harmonised system scheduled for 2029. Until then, national supervisors will continue applying their existing methodologies while preparing for the transition.

Businesses, supervisory authorities, financial intelligence units, industry bodies, academics and other stakeholders are encouraged by AMLA to submit feedback before the standards are finalised.

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EU Services Production Grows As Information And Communication Lead

by THEFUTURE.TEAM

November 10, 2026

Services production continued to expand across the European Union in August 2026, with information and communication recording the strongest annual growth. However, performance varied significantly between industries and member states, while Cyprus reported a mixed picture, with business services expanding and hospitality-related activities declining.

Information And Communication Leads Sector Growth

Compared with August 2025, services production increased by 5.9% in the euro area and 5.8% across the EU in information and communication. Transportation and storage also recorded growth, rising by 2.1% and 1.9%, respectively.

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Real estate activities increased by 1.6% in the euro area and 1.1% in the EU. Professional, scientific and technical activities grew by 1% in both areas, while administrative and support services advanced by 1.1% and 1.3%.

Accommodation and food services was the only major sector to record an annual decline, falling by 0.1% in both the euro area and the EU.

The monthly figures were more mixed. Information and communication remained the strongest performer, increasing by 1.2% in the euro area and 1% across the EU. Real estate activities rose by 0.4% and 0.9%, respectively, while transportation and storage edged up 0.1% in the euro area but declined by 0.2% in the EU.

Administrative and support services recorded modest gains of 0.2% in the euro area and 0.1% in the EU. Accommodation and food services fell by 0.3% and 0.4%, while professional, scientific and technical activities declined by 0.8% and 0.9%, respectively.

Slovakia And Greece Record Strongest Annual Growth

Romania recorded the largest monthly increase in services production, at 5.2%, followed by Malta at 1.8% and Portugal at 1.7%. Luxembourg experienced the steepest decline, with output falling by 5.1%, followed by Bulgaria at 2.3% and Denmark at 1.9%.

On an annual basis, Slovakia led with growth of 10%, followed by Greece at 9.3% and Malta at 7.5%. Hungary recorded the weakest performance, with services production declining by 5.6%. Denmark fell by 5.3%, while Italy recorded a smaller decrease of 0.3%.

Cyprus Sees Growth In Business Services But Weakness In Hospitality

Cyprus’ latest figures show a similar divide between expanding business services and weaker hospitality-related activities. According to the Statistical Service of Cyprus (Cystat), professional, scientific and technical activities recorded the strongest annual growth among the covered sectors in the second quarter of 2026, increasing by 3.4%.

Transportation and storage and information and communication both grew by 2.1%, while real estate activities rose by 1.6%. In contrast, accommodation and food services declined by 3.1% year on year, and administrative and support services fell by 2.2%.

First-half results were more favourable for several sectors. Between January and June, professional, scientific and technical activities grew by 3.5%, transportation and storage by 2.8%, real estate by 2.1% and information and communication by 1.3%.

Nevertheless, administrative and support services contracted by 1% over the six-month period, while accommodation and food services declined by 0.7%.

How Cyprus’ Figures Differ From Eurostat’s Data

The Eurostat and Cystat figures measure different aspects of economic activity and are not directly comparable. Eurostat’s services production index tracks changes in the volume of output, whereas Cystat’s Turnover Value Index for Services and Transport measures the value of sales at current prices.

The reporting periods also differ: Eurostat’s figures cover August, while the cited Cypriot data relate to the second quarter and first half of 2026.

Cystat transmits services production data to Eurostat but does not yet publish a separate national production index. Turnover figures therefore remain the main publicly available national indicator for the sector.

Taken together, the data point to continued growth in several of Cyprus’ business-oriented services, alongside persistent pressure on accommodation, food and administrative support activities.

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