CySEC Asks Parliament for Bigger Budget, Staff Increased 48% in 2016

[kreslik.news]

The Chair of the Cyprus Securities and Exchange Commission (CySEC), Demetra Kalogirou spoke  to Cypriot lawmakers in parliament earlier this week. The regulator’s chief has highlighted that the budget which is dedicated by the government for the financial supervisor’s functions falls short.

The CySEC’s budget for 2017 is close to €8.7 million ($9.3 million). The regulator which is tasked to supervise 600 entities and has about 130 applications of new companies that are pending, has asked parliament for more funding.


According to official information, the CySEC has increased its staff in 2016 by 48 percent to about 100 ... (read more)