The importance of the services sector for the Cypriot economy, the unpaid fines imposed by the Cyprus Securities and Exchange Commission (CySEC) and debt settlements were among the issues discussed by the President and Vice President of CySEC, in a meeting on Friday with the Speaker of the House of Representatives, Anita Demetriou.
According to a statement from the Office of the President of the House of Representatives, there was an exchange of views and suggestions on issues related to the mission and responsibilities of the CySEC. In particular, it is stated that, among other things, issues relating to the groups of supervised entities, the challenges faced by CySEC, the prospects for market development particularly with regard to the application of innovative technologies, as well as the situation of unpaid fines imposed by the Commission and the settlements of debts which it makes under certain conditions were discussed.
For her part, the President of the Parliament stressed the importance of the work to be carried out by CySEC, particularly taking into account the importance of the She also referred to the major challenges that CySEC has to face, while stressing the need to implement innovative technologies especially in the circumstances that have arisen due to the pandemic, she added.
The President of the House of Representatives also assured the CySEC representatives of taking actions to enhance two-way communication between the House of Representatives and the Cyprus Securities and Exchange Commission in the context of the adoption of legislation related to the competences of the Commission, as well as of taking the initiative for greater cooperation between the CySEC and the House of Representatives. CNA
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