The Council today1 set out its position on a draft directive establishing a framework for the recovery and resolution of credit institutions and investment firms (11148/1/13 REV 1). It called on the presidency to start negotiations with the European Parliament with the aim of adopting the directive at first reading before the end of the…
For the purposes of regulating the professional activities provided in the framework of administrating private companies by other companies the law on the Regulation of Fiduciaries, Administration Businesses and Company Directors, which transposes the provisions of Directive 2005/60/EC into national law, has been enacted by the Cyprus Parliament on 21st December 2012. Scope of the…
Supreme Court’s Judgment on Administrative Recourses regarding the Bank Resolution Decrees (“Bail in”) ______________________________________ By a majority of seven to two, the Supreme Court of Cyprus issued on 7th of June 2013 its judgment regarding the administrative recourses filed against the Banks’ Resolution Decrees dismissing the same on the ground of non-admissibility. A vast number…
Click here to download the article in PDF format
Click here to download the article in PDF format
Click here to download the article in PDF format
16 March 2013 Eurogroup Statement on Cyprus The Eurogroup welcomes the political agreement reached with the Cypriot authorities on the cornerstones of the policy conditionality underlying a future macroeconomic adjustment programme. The programme will be based on ambitious measures to ensure the stability of the financial sector, determined action to carry out the required fiscal…
Click here to download the article in PDF format
Cyprus, New Law Regulating Fiduciary Services For the purposes of regulating the professional activities provided in the framework of administrating private companies by other companies the law on the Regulation of Fiduciaries, Administration Businesses and Company Directors, which transposes the provisions of Directive 2005/60/EC into national law, has been enacted by the Cyprus Parliament on…
By a majority of seven to two, the Supreme Court of Cyprus issued on 7th of June 2013 its judgment regarding the administrative recourses filed against the Banks’ Resolution Decrees dismissing the same on the ground of non-admissibility. A vast number of recourses filed against the so called “bail in” Decrees should be now considered…
