CySEC updates anti-money laundering rules for ultimate owner registry in trusts
The Cyprus Securities and Exchange Commission (CySEC) has introduced an amending regulatory directive updating the anti-money laundering framework for the registry of ultimate owners in express trusts and similar legal arrangements. The directive, Regulatory Administrative Act 243/2026, streamlines compliance and revises access rules to the national beneficial ownership database, aiming to enhance transparency and combat financial crime.
The update modifies the definition of authorised users allowed to view registry data and removes certain administrative filing requirements related to trust ownership details. It also simplifies operational guidelines by deleting redundant regulatory paragraphs. These changes leverage statutory powers under section 61C of Cyprus's Prevention and Suppression of Money Laundering and Terrorist Financing Law.
Express trusts must now comply with the updated regulations immediately, declaring their true beneficial owners to support anti-money laundering efforts. The directive took effect following its publication in the Official Gazette of the Republic of Cyprus.
No news yet
CYPRadar is a state-of-the-art, AI-powered Cyprus news aggregator that automatically crawls, filters, and translates local updates in real time. By continuously scanning a wide range of trusted Cypriot media outlets, blogs, and official RSS feeds, the platform identifies original stories and uses advanced language models to filter out duplicate coverage. The service then generates concise, objective summaries, ensuring that readers get a quick and clear understanding of every significant event without information overload.
The primary mission of CYPRadar is to provide comprehensive, multi-language coverage of Cyprus news to keep both residents and international visitors well-informed. The platform covers key events across all major cities and districts, including Nicosia, Limassol, Larnaca, Paphos, and Famagusta. By offering all updates simultaneously in five languages — English, Russian, Greek, Ukrainian, and Turkish — CYPRadar bridges communication gaps and ensures that everyone has equal access to critical local information, from policy changes to community events.
Monitor economic trends, financial regulations, and business news in Cyprus. Follow corporate developments, banking sector updates, inflation reports, tax changes, investment growth, and real estate market performance.