Nicosia, Cyprus. The Cyprus Securities and Exchange Commission (CySEC) announced the launch of a public consultation on proposed amendments to its directive governing the register of beneficial owners of express trusts and similar legal arrangements. The changes include revoking general public access to beneficial ownership information.
Proposed amendments and legal alignment
CySEC said the consultation paper proposes updates to the existing directive regulating the register, aiming to align it with planned changes to Law 188(I)/2007. The commission added that the changes are intended to harmonise national legislation with Article 74 of Directive (EU) 2024/1640.
Access to beneficial ownership information
Under the proposed framework, general public access to beneficial ownership information would be revoked. CySEC said access would be granted only to individuals or organisations that can demonstrate legitimate interest, and only those meeting that requirement would be permitted to access information contained in the register.
Context and supporting documents
CySEC said the proposal follows a relevant ruling by the Court of Justice of the European Union regarding access to beneficial ownership information. The consultation paper also includes an annex outlining the specific amendments proposed to the directive.
Submission process and deadline
CySEC invited interested parties to submit their views or enquiries regarding the proposed amendments. Enquiries should be sent to CySEC’s policy department via email, and submissions must be sent by March 24, 2026 at the latest.
Will you submit feedback to CySEC on the proposed changes before the March 24, 2026 deadline?
