05/03/2010 06:43
Ignoring the discontent of SEC Chairman for the lack of economic resources, the Parliament approved on Thursday the Commission’s budget without increasing the calculated items.
The budget provides for total expenditure of €3.8 million and revenues of €3.7 million.
SEC’s revenues stem from the annual state aid and the annual contributions and fees from the Investment Firms, the companies that are listed in the CSE and the Organizations of Collective Investments in Movable Securities.
Its total expenditure concerns the reserve as well as administrative expenses including the remunerations of the Commission, the staff cost, the contributions to funds, the office expenses and the expenses for conferences, missions and leaves for official duties.
The expenditure also includes the purchase of services, the bill of charges and the purchase of computerization equipment, programs and services.
During the House talks on its budget last month, SEC Chairman, Giorgos Charalambous had requested an increase in the items for the appointment of staff, since “the human resource of the Commission cannot deal with the increased needs for supervision and compliance with the EU rules”.
The budget provides for total expenditure of €3.8 million and revenues of €3.7 million.
SEC’s revenues stem from the annual state aid and the annual contributions and fees from the Investment Firms, the companies that are listed in the CSE and the Organizations of Collective Investments in Movable Securities.
Its total expenditure concerns the reserve as well as administrative expenses including the remunerations of the Commission, the staff cost, the contributions to funds, the office expenses and the expenses for conferences, missions and leaves for official duties.
The expenditure also includes the purchase of services, the bill of charges and the purchase of computerization equipment, programs and services.
During the House talks on its budget last month, SEC Chairman, Giorgos Charalambous had requested an increase in the items for the appointment of staff, since “the human resource of the Commission cannot deal with the increased needs for supervision and compliance with the EU rules”.
Related Articles
