The Speaker of the House of Representatives Mrs.Anita Demetriou held a meeting today, Friday, 28 January 2022, with the President and the Vice President of the Cyprus Securities and Exchange Commission (CySEC).
During the meeting, views and suggestions were exchanged on issues concerning the mission and responsibilities of CySEC. In particular, they discussed, inter alia, 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 status of unpaid fines imposed by the Commission and the settlements of debts which it makes under certain conditions.
For her part, the President of the House of Representatives stressed the importance of the work to be carried out by CySEC, particularly taking into account the importance of the service provision sector. The President also referred to the major challenges facing the CySEC, while stressing the need to apply innovative technologies, especially in the circumstances created by the pandemic.
Finally, the Speaker of the House of Representatives assured the CySEC representatives that the CySEC will take steps to strengthen the two-way communication between the House of Representatives and the Cyprus Securities and Exchange Commission in the context of the adoption of legislation relating to the competences of the Commission, as well as to take an initiative for greater involvement of the CySEC, both at European and international level, in an effort to strengthen the credibility of the Republic of Cyprus as an economic centre.
(MB/SX)
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