The Cyprus Securities and Exchange Commission (CySEC) published a new amending regulatory directive updating the anti-money laundering framework governing the registry of ultimate owners for express trusts and similar legal arrangements.

The regulatory update, officially designated as Regulatory Administrative Act 243/2026, was enacted by the board of the financial watchdog to streamline compliance and access rules for the national beneficial ownership database.

The measures exercise specific statutory powers granted to the regulator under section 61C of the primary Prevention and Suppression of Money Laundering and Terrorist Financing Law, which has undergone multiple legislative updates between 2007 and 2025.

By updating the underlying regulatory framework established between 2021 and 2025, the new directive modifies how the ultimate human controllers of financial structures, known technically as beneficial owners, are recorded and accessed.

Under the updated terms, the regulator revised the legal definition of an authorised user by updating cross-references within section 61C of the primary anti-money laundering legislation to adjust which entities can view register data.

The statutory changes also specifically eliminate sub-paragraph 5 of paragraph 10 from the main regulatory directive, removing former administrative requirements relating to the filing of trust ownership details.

In addition, the watchdog amended paragraph 11 of the directive to adjust cross-referencing provisions, effectively removing references to paragraph 14 of the rules.

The amendment formally deletes paragraph 14 in its entirety, simplifying the overarching operational guidelines that service providers and trustees must follow when submitting information.

Express trusts, which are formal legal setups created explicitly by a settlor to hold assets for named beneficiaries, must declare their true owners to help combat money laundering and financial crime.

The new amending regulatory directive entered into force immediately upon its official publication in the Official Gazette of the Republic.