G. Karatzias: CySEC is promoting investment funds through an institutional framework upgrade

"The Cyprus Securities and Exchange Commission (CySEC) attaches great importance to the further promotion and development of the investment funds sector through the upgrading and modernisation of the institutional framework that governs it," said George Karatzias, CySEC’s Vice Chairman.

He was addressing the Cyprus Investment Funds Association’s AGM on 15 February.

He added that in the last two years, 87 management companies and investment fund organisations had been licensed by CySEC, while another 16 organisations are in the process of being evaluated.

He said that based on the latest data, CySEC had under its supervision 314 investment fund companies and organisations with funds under management amounting to 8.6 million euros.

Karatzias added that the continuous strengthening of CySEC was crucial for it to continue to be able to respond to these growing figures.

The annual general and election meeting was held in the presence of the President of the Republic Nikos Christodoulides, the Minister of Finance Makis Keravnos and other dignitaries from the country’s business and political life.

During the meeting, the new CIFA Board of Directors was elected.

Also read: Maria Panayiotou named President of new CIFA Board of Directors

(Source: InBusinessNews)

Read More

Olympic Airways Boeing 727 finds new home on Athens' Vouliagmenis Avenue (pics)
Frotcom: How companies can reduce fleet costs while increasing road safety
BE OPEN Foundation launches initiative in Cyprus to reinvigorate traditional crafts
Cyprus Closed Chess Championship names winners
Petrolina sponsors 'Petrolina 10km Energy Race' at the OPAP Limassol Marathon
Christodoulides’ intervention paid off - Kition is continuing the Larnaca marina project
CSC demands the release of the hostage seafarers and condemns seizure of 'MSC Aries'
Innovative Ideas with the European Union’s signature at sCYence Fair 2024
Sovereign Group: 25 years in Cyprus and the award ceremony (pics)
Cyprus to organise a commandaria event in France in October