CySEC Conference Dinner 2019 Crowned with Success
The first CySEC Conference Dinner organized by the Cyprus Securities and Exchange Commission was carried out with great success. The dinner took place on the 8th April 2019 at the Hilton Park Hotel in Nicosia, and was attended by more than 650 shareholders, board members, managing directors, chief financial advisors, presidents and other senior managers of regulated entities in Cyprus.
President Nicos Anastasiades, greeted and welcomed the guests through his opening speech, and referred to the present economic situation and the country's future goals, especially regarding reform efforts.
Demetra Kalogerou, Chairwoman of CySEC, also addressed the event, and referred to the development of the sector, noting that from 2011 to 2019 it exceeded 173%. She also added that in relation to December 2017 there has been an increase of 6%, which reflects the steady increase in the number of regulated entities operating in Cyprus. Much of this growth is due to the completion of the legal framework for investment funds and the further maturity of the Cypriot fund management sector over the last three years.
Kalogerou also mentioned that technology has been one of the CySEC’s main priorities, which is why the Innovation Hub was created in September of 2018 with the aim of exploring the growth and uses of the Financial Technology (FinTech) and Regulatory Technology (RegTech). Since then, meetings with more than 20 FinTech and RegTech companies from Cyprus and abroad were held, who are interested in offering innovative products.
Steven Maijoor, President of the European Securities and Markets Authority (ESMA), as the main speaker of the evening, shared with the attendees his experience and knowledge on the financial sector in Europe. As he explained, innovation in financial products and services is necessary to create a truly competitive financial sector that can deliver a better outcome to consumers who need and use these products. He said, however, that growth in the new sector of financial innovations / cryptoassets may confuse consumers about what is considered a financial innovation and what is not.
Concluding, Maijoor stressed that this lack of clarity may leave consumers exposed to significant risks and that CySEC is committed in working closely with national authorities across the EU to oversee these new products.
Additionally, an honorary award was given to Frixos Sorokou, former Chairman of the Cyprus Securities and Exchange Commission. The award was given by the President Anastasiades and CySEC chairwoman Demetra Kalogerou.
Hosted by: Cyprus Securities and Exchange Commission (CySEC)
Communication Sponsors: INBusiness, GOLD
Coordinator: IMH
Diamond Partners: Exness (Cy) Ltd, CISCO – BOC Asset Management, Just2trade Online Ltd, Safecap Investments Ltd, Deloitte, Astro Bank, Logicom, Notesco Financial Services Ltd, K. Treppides & Co Ltd, IQOption Europe Ltd, Hellenic, KPMG, GMM Global Money Managers Ltd και UGM Securities Ltd
Gold Partners: MAP S. Platis, Renaissance Securities (Cyprus) Ltd, Meerkat City, Systemic, AMF Global Services Ltd, IFSA Management Limited, Bdswiss Holding Plc, AJK Bureau of Consultants, Bridge Global Solutions Services Ltd, Minerva Insurance Company Public Ltd, eToro Europe LTD, ECOMMBX Limited, Eurobank, Windsor Brokers Ltd, Athlos Capital Investment Services Ltd, DELFI CORPORATE SERVICES LIMITED και Leptos Group
