GOLD New Issue: Guardians of Compliance

In this month’s issue of GOLD, out on Sunday, 17 December, we explore regulatory conformity and good governance in the Cyprus banking sector.

As of 2021, the EU had issued over 34,000 pieces of legislation governing regulation across multiple sectors, including banking. The European Central Bank alone has published 159 decisions, 45 guidelines and 26 regulations, with no visible signs that the regulatory avalanche is slowing down. Consequently, banks find themselves ensnared in an unceasing juggle between ensuring compliance and dealing with its burgeoning expenses. To keep up, banks have made hefty investments in staff training, technological upgrades and rigorous administrative processes. However, our conversations with the Compliance Heads of seven local banks for this issue’s cover story reveal an interesting paradox: stringent adherence to compliance is both a bane, due to its cost and complexity, and a boon as it fortifies customer relationships and symbolises the sector’s unwavering commitment to upholding standards, thus serving as a beacon for the country’s global image.

In this cover story, the Heads of Compliance at seven Cypriot banks dissect the compliance landscape, unravelling its challenges and prospects.

• Bank of Cyprus
• Hellenic Bank
• Eurobank Cyprus
• AstroBank
• cdbbank
• National Bank of Greece (Cyprus)
• Ancoria Bank

In addition to this and all of GOLD’s regular features, this issue also includes exclusive interviews:

• Setting New Benchmarks In Luxury Real Estate - George and Pantelis Leptos, Co-Presidents of the Leptos Group, explain how the Group is making waves in the industry, thanks to its projects’ exceptional locations, sophisticated design and its exceptionally high level of consumer satisfaction
• Playing the Investment Game - Kirill and Roman Gurskiy, the co-managing directors of GEM Capital, talk about how video games are eating away at other entertainment revenues
• Ethos, Integrity, Professionalism and Quality - Deloitte Cyprus CEO Pieris Markou looks back at the firm’s history
• Personal Business in a Global Context - Interview with Theodoros Mitsingas, General Manager at Monjasa, and Senior Trader Rania Saman
• Taxing Times - Philip Baker, KC, OBE, barrister, Field Court Tax Chambers, discusses the never-ending tug-of-war between states and taxpayers
• Harry's Game - New York-based film director Harry Mavromichalis talks about the directing and editing process, his view of film critics and the state of the Cyprus film industry

Special Features:

• Corporate Sustainability and Responsibility in Cyprus
• Private Education in Cyprus
• Professional Services Cyprus

All this and more in Issue 153 of GOLD magazine, out on Sunday, 17 December.