The Cyprus Securities and Exchange Commission (CySEC) has launched a public consultation to gather feedback on proposed amendments to the Financial Conglomerates Directive aimed at aligning national legislation with new European Union requirements for digital data transparency.
The consultation paper focuses on modifying Directive DI 87-12 to ensure the Republic remains compliant with the framework governing the European Single Access Point (ESAP).
These proposed changes are designed to transpose Directive (EU) 2023/2864, a move that will modernise how financial information is accessed and shared across the bloc.
The primary objective of the update is to ensure that specific information disclosed by Investment Firms, Asset Management Companies, and AIFMs of the Republic that function as part of a financial conglomerate is made easily available on the new platform.
The European Single Access Point serves as the EU’s centralised digital gateway, providing a single location for the public to access financial and sustainability information regarding various entities and products.
By integrating local data into this centralised system, the regulator intends to enhance the visibility of the Cypriot financial sector while meeting strict European standards for data accessibility.
Interested parties who wish to contribute to the legislative process are invited to review the document and provide their professional insights on the proposed amendments.
“Interested parties may submit their comments to the Policy Department of CySEC at [email protected] by January 12, 2026,” the commission stated regarding the deadline for public participation.
The submission of these comments marks a critical step for stakeholders in the financial services industry to voice their concerns or support before the final rules are implemented.
