06/07/2016 09:04
Speaking at an event organized on 5 July at the Presidential Palace for the 20 years of supervision conducted by the Cyprus Securities and Exchange Commission (CySEC), its Chair Demetra Kalogerou assured that the Commission will continue to work in order to safeguard the credibility of the Cyprus securities market and develop trust through responsible action, innovation, and education.
According to a statement, the event was attended and addressed by President of the Cyprus Republic Nicos Anastasiades, Minister of Finance Harris Georgiades, and the Chair of the European Securities and Markets Authority (ESMA) Steven Majoor within the framework of his visit to Cyprus. Mr. Majoor congratulated the Cyprus Securities and Exchange Commission, and thanked it for its contribution to the work conducted by ESMA through its participation in the Board of Supervisors and NCAs. He also expressed the hope that CySEC and ESMA will continue to cooperate in order to achieve their common target of investor protection, and the promotion of stability and order in European Union markets.
The event was also attended by, in addition to other officials and state and political representatives, the higher management and major shareholders for CySEC supervised entities, and the most significant officials related to the Cyprus securities market. Welcoming guests, Ms. Kalogerou said that over the past twenty years the role of CySEC has evolved and has been substantially differentiated, managing through the promotion of legislation, directives and other actions to harmonize the securities market with the European Union, at a time of rapid change and challenges presented at both the European and international level.
The CySEC Chair thanked the President of the Republic as well as the Finance Minister and the House of Representatives, for their support to the Commission’s work through the adoption of legislation and the strengthening of tools and resources made available to the it so as to fulfill its vision and targets. ESMA Chair Steven Majoor was also especially thanked for his valuable cooperation and support.
Ms. Kalogerou continued to refer to the evolution of the institution during the twenty years of its operation, remarking the particular importance that the Commission pays to the licensing and supervision of entities with the fair treatment of clients and their full compliance with the regulatory framework strongly imprinted in their values and operating methods.
Realizing the need to support and develop the Cyprus financial services sector, Kalogerou noted, the Commission focused its efforts on the integration of the regulatory framework governing collective investments, taking into account, among other things, the positions of the Cyprus market.
As a result of these efforts, the Cyprus Securities and Exchange Commission currently supervises over 500 entities, of which 208 are Cyprus Investment Firms, 155 are Administrative Service Providers, the Cyprus Stock Exchange, including the 81 companies listed on its board and 12 issuers registered in foreign markets. The growing sector of collective investment funds is also an important part of the Commission’s regulatory competence, with 35 fund managers handling a total of €20.3 billion in funds currently under CySEC supervision.
According to a statement, the event was attended and addressed by President of the Cyprus Republic Nicos Anastasiades, Minister of Finance Harris Georgiades, and the Chair of the European Securities and Markets Authority (ESMA) Steven Majoor within the framework of his visit to Cyprus. Mr. Majoor congratulated the Cyprus Securities and Exchange Commission, and thanked it for its contribution to the work conducted by ESMA through its participation in the Board of Supervisors and NCAs. He also expressed the hope that CySEC and ESMA will continue to cooperate in order to achieve their common target of investor protection, and the promotion of stability and order in European Union markets.
The event was also attended by, in addition to other officials and state and political representatives, the higher management and major shareholders for CySEC supervised entities, and the most significant officials related to the Cyprus securities market. Welcoming guests, Ms. Kalogerou said that over the past twenty years the role of CySEC has evolved and has been substantially differentiated, managing through the promotion of legislation, directives and other actions to harmonize the securities market with the European Union, at a time of rapid change and challenges presented at both the European and international level.
The CySEC Chair thanked the President of the Republic as well as the Finance Minister and the House of Representatives, for their support to the Commission’s work through the adoption of legislation and the strengthening of tools and resources made available to the it so as to fulfill its vision and targets. ESMA Chair Steven Majoor was also especially thanked for his valuable cooperation and support.
Ms. Kalogerou continued to refer to the evolution of the institution during the twenty years of its operation, remarking the particular importance that the Commission pays to the licensing and supervision of entities with the fair treatment of clients and their full compliance with the regulatory framework strongly imprinted in their values and operating methods.
Realizing the need to support and develop the Cyprus financial services sector, Kalogerou noted, the Commission focused its efforts on the integration of the regulatory framework governing collective investments, taking into account, among other things, the positions of the Cyprus market.
As a result of these efforts, the Cyprus Securities and Exchange Commission currently supervises over 500 entities, of which 208 are Cyprus Investment Firms, 155 are Administrative Service Providers, the Cyprus Stock Exchange, including the 81 companies listed on its board and 12 issuers registered in foreign markets. The growing sector of collective investment funds is also an important part of the Commission’s regulatory competence, with 35 fund managers handling a total of €20.3 billion in funds currently under CySEC supervision.
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