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From ‘no market’ to 800 companies, outgoing CySEC president says
September 6, 2021
The Cyprus Securities and Exchange Commission (CySEC) presented its annual report for the previous year to the President of the Republic of Cyprus Nicos Anastasiades.
The presentation of the report was conducted by CySEC president Demetra Kalogerou and took place on Friday, September 3, at the presidential palace in Nicosia.
“We had a good year [in 2020]. We provided licenses to eighty new companies, and imposed fines of €3 million in total on violating companies, including for issues pertaining to illicit funds, but also for other violations of our laws,” Kalogerou said during the presentation.
The CySEC president also made reference to new products launched by the commission that are addressed to the needs of small-to-medium enterprises (SMEs), as well as to the creation of a new platform that will soon be licensed by the commission.