Entities supervised by CySEC rise 159% in 6 years

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By Stelios Orphanides

The Cyprus Securities and Exchange Commission (CySEC) saw its number of supervised entities rise 159 per cent to 641 at the end of 2017 in six years with another 112 under review, the Cyprus News Agency (CNA) reported on Friday.

The number of Cypriot investment firms rose 102 per cent in six years to 235, adding that the number of alternative investment firms and mutual funds managing more than €100 million each that got a licence was 118 and 20 respectively, the CNA reported citing the CySEC chairwoman Demetra Kalogerou. Another 74 applications for a licence are pending.

Kalogerou said that the supervisory body aims at further establishing Cyprus as an attractive as incorporation and operation base of investment funds and focuses on developing the collective investment and asset management sectors.

The number of investment firms as of May 2018 was 232 with almost two-thirds of them being headquartered in Limassol and 29 per cent in Nicosia, she said. The number of corporate services providers supervised by CySEC was at the end of May 167.

CySEC, which also supervises stock market transactions, oversees 68 security issuers plus 13 other entities listed abroad, the CySEC chairwoman said

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Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]