Lessons For EMIs And Regulated Entities From Administrative Court Judgment No. 975/2020

Lessons for EMIs and Regulated Entities from Administrative Court Judgment No. 975/2020 — The Courts Confirm the Supervisory Approach in Cyprus

Regulatory Non-Compliance as a Ground for Licence Cancellation

Cyprus regulatory law is clear in principle but often underestimated in practice: a regulated licence is not a vested right but a conditional administrative authorisation, subject to continuous compliance with statutory and regulatory requirements. This position was reaffirmed in Administrative Court Judgment No. 975/2020, in which the Court upheld the decision of the Central Bank of Cyprus to revoke the Electronic Money Institution (EMI) licence of an entity referred to in the proceedings as 'W Ltd'.