Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 20 AUGUST 2024

Market Intelligence Thought Leadership Award Winner

Cyprus Securities And Stock Exchange Commission

G. Vrikis & Associates LLC
Explore more from G. Vrikis & Associates LLC

The Cyprus Securities and Exchange Commission (CySEC) introduced a Policy Statement CP-02-2020 which is a transformative regulatory framework aimed at modernizing customer onboarding in the financial services factor.

CyprusFinance and Banking
Andria Aristeidou
Andria Aristeidou
Author LinkedIn connections

The Cyprus Securities and Exchange Commission (CySEC) introduced a Policy Statement CP-02-2020 which is a transformative regulatory framework aimed at modernizing customer onboarding in the financial services factor. It addresses the growing need for technological innovation while enduring stringent compliance with anti-money laundering (AML) regulations.

The financial industry is rapidly evolving, driven by technological advancements ad shifting customer expectations. Due to that, CySEC introduced CP-02-2020, aligning with the European Union's AML Directives (AMLD4 and AMLD5) to establish new standards for customer due diligence and risk management.

One of the main components of the policy is the advocates for the use of remote onboarding techniques, allowing financial institutions to verify customer identities without physical interaction. This approach is intended to enhance efficiency and improve the customer experience, though it requires a

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

MiCA’s Transition Ends On 1 July 2026. Is Your Crypto Business Authorised To Continue?

The EU's Markets in Crypto Assets Regulation (MiCA) transitional period expires on 1 July 2026, marking a critical deadline for crypto-asset service providers operating in Europe. Without proper MiCA authorisation by this date, businesses must cease operations and implement orderly wind-down procedures, as pending applications do not grant permission to continue providing services. This comprehensive analysis examines the regulatory requirements, compliance obligations, and strategic considerations for cryp
CyprusFinance and Banking
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

Can Cyprus Become A True Fintech Banking Hub?

Cyprus is evolving from a jurisdiction that simply attracts fintech licenses to one building genuine European fintech infrastructure. With new regulatory frameworks including PSD3, DORA, and MiCA converging, the country faces a critical question: can it develop the banking relationships, payment systems access, and institutional depth required to transform licensed entities into a truly interconnected financial ecosystem?
CyprusFinance and Banking
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

High-risk Business Incorporation: Structuring iGaming, Crypto And Adult Industry Companies The Right Way

Launching a high-risk business in sectors like iGaming, crypto, fintech, or adult entertainment requires strategic corporate structuring from the outset. This comprehensive guide examines how jurisdiction selection, ownership transparency, payment flows, and compliance preparation directly impact licensing approval, banking access, and long-term operational stability in heavily scrutinized industries.
CyprusFinance and Banking
Michael Chambers & Co LLC
Michael Chambers & Co LLC
Article

Jenec: The Limits Of Automatic De-Risking In EU Banking Law

On 11 June 2026, the Court of Justice of the European Union (the “Court”) delivered its judgment in Case C-81/24, Jenec. The case concerned the relationship between the right of access to a payment account with basic features under Directive 2014/92/EU (the “Payment Accounts Directive”) and the AML/CFT obligations imposed on financial institutions under Directive (EU) 2015/849 (the “AML Directive”).
CyprusFinance and Banking
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC