CySEC published a new press release titled “Cyprus capital market remains on an upward trajectory”. As mentioned in the press release, Mrs Demetra Kalogerou, Chairwoman of the Cyprus Securities and Exchange Commission, highlighted that despite a difficult financial environment, the Cyprus capital market keeps on growing.
Yesterday, the 17th of March 2021, there was a Press Conference where CySEC’s work in 2020 and its objectives for 2021 were presented by Mrs Kalogerou.
More specifically regarding the licensing of new regulated entities, 88 entities were approved, 69 of which are active in collective investments.
‘Mini-Managers’, which is a new regulatory category, came under its supervision last year and Crowdfunding was launched which is a new investment product. The option to digitally submit company data was extended to Fund Managers.
The Commission has also created an electronic platform for the digital submission of applications, starting from licensing applications of Collective Investment Funds.
Also, an important development for the collective investment fund sector is the implementation of the package of Regulations on sustainable investments, which takes into account the Paris Agreement aimed at tackling climate change and the EU’s action plan in relation to financing sustainable growth.
Mrs Kalogerou stated that through the Innovation Hub, they help businesses and business people who develop green FinTech solutions and that CySEC supports new FinTech-based products, services, and infrastructure projects. She also stressed that the capital market is a key driver of growth especially in periods of crisis.
You can read CySEC’s press release here.