Navigating New Reporting Standards: CySEC’s Guidance for Cyprus Investment Firms

by News Editor

April 8, 2025

The Cyprus Securities and Exchange Commission (CySEC) has released an essential update aimed at all Cyprus Investment Firms (CIFs) on how to report cross-border investment activities within the European Economic Area (EEA) for the coming year.

This change, built on Circular C694 under section 25(1)(c)(ii) and (iii) of the CySEC Law, aligns with broader European initiatives spearheaded by the European Securities and Markets Authority (ESMA). Prime focus is on CIFs extending their services beyond national borders to countries like Norway, Iceland, and Liechtenstein.

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Key Reporting Requirements

CIFs must complete an online questionnaire for activities between January 1 and December 31, 2024, particularly if more than 50 retail clients are involved. Services under the “freedom to provide services” must be reported, excluding those provided through local branches.

Reporting of inactive clients is not needed unless they still generate revenue despite inactivity. Each host member state with significant client activity requires a separate submission, excluding Cyprus as a home state from this requirement.

The deadline for these submissions is May 26, 2025, with an email and password necessary to access the reporting platform. Important: Preserve submission confirmations as evidence of compliance.

Consequences Of Non-Compliance

CySEC warns that failing to adhere to these guidelines could result in administrative penalties. There will be no reminders for missing submissions—CIFs must ensure their reporting is on time and accurate.

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Digital Euro Moves Forward In EU Push For Payment Independence

by THEFUTURE.TEAM

April 28, 2026

Strengthening Strategic Autonomy

At an event held at the House of the Euro in Brussels on April 22, central bank officials discussed the role of a digital euro in strengthening the European Union’s financial independence. Participants included Stelios Georgakis, Payments Supervision Director at the Central Bank of Cyprus, and Joachim Nagel, President of the Deutsche Bundesbank.

Redefining Central Bank Role In A Digital Era

Nagel stated that the digital euro is no longer viewed solely as a technical development but also as part of a broader policy direction. He emphasized the need to strengthen Europe’s payment infrastructure to ensure resilience and independence. The digital euro is intended to complement cash rather than replace it, maintaining the role of central bank money in a more digital financial system.

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Reducing Dependence On Non-European Infrastructure

According to Nagel, around two-thirds of card payments in Europe currently rely on non-European systems. This reliance is seen as a structural vulnerability. A digital euro could help reduce this dependency by supporting a more integrated and locally controlled payments framework.

Legislative Roadmap And Timeline

Looking ahead, Nagel expressed a strong optimism regarding the legislative process, suggesting that completion could occur by year‑end. This progress may set the stage for the first issuance of the digital euro as early as 2029, in alignment with Europe’s broader ambitions for financial resilience and technological advancement.

Comprehensive Payments Strategy

During the discussion, Georgakis outlined the European Central Bank’s approach to payments. The strategy combines retail and wholesale systems, including instant payments, a digital euro, and infrastructure based on distributed ledger technology. Improving cross-border payment efficiency remains a key objective.

Transforming Europe’s Financial Landscape

The discussion reflected alignment between central banks, policymakers, and other stakeholders on the direction of Europe’s payment systems. Development of a digital euro is positioned as part of a broader effort to strengthen financial infrastructure, support economic resilience, and maintain the euro’s role in a changing global environment.

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