President Nikos Christodoulides celebrates the 30th anniversary of CySEC, highlighting its role in financial market integrity, European cooperation, and adapting to technological innovations.
The President of Cyprus, Mr. Nikos Christodoulides, delivered a keynote speech at the event marking the 30th anniversary of the Cyprus Securities and Exchange Commission (CySEC).
He emphasized CySEC’s role in shaping the integrity, credibility, growth, and resilience of Cyprus’ financial markets over three decades.
The President highlighted that CySEC’s establishment was a strategic decision to build a transparent, investor-protective, and trustworthy capital markets supervision system, supporting Cyprus’s transition to a more productive and knowledge-based economy.
He noted Cyprus’s accession to the European Union in 2004, which increased CySEC’s responsibilities within the EU supervisory framework and contributed to supervisory convergence and institutional credibility.
CySEC’s active engagement with the European Securities and Markets Authority (ESMA) and its role during Cyprus’s EU Presidency demonstrate its contribution to European financial governance, even as a small jurisdiction.
The speech addressed the challenges faced by regulators globally, including financial crises, technological disruption, and geopolitical uncertainty, emphasizing the importance of strong supervision for sustainable growth.
The President discussed the resilience of the Cypriot economy amid rapid digitalization, new financial products, and increased retail investor participation, attributing this to institutional credibility and sound governance.
He highlighted the importance of innovation and emerging technologies, such as artificial intelligence, for market efficiency and inclusion, while acknowledging the risks they pose. CySEC’s proactive approach to regulation reflects a forward-looking supervisory philosophy.
The President expressed appreciation for the professionalism and integrity of CySEC’s staff and leadership, reaffirming government support for strengthening its capacity at both national and European levels.
He concluded by emphasizing the importance of balancing market efficiency with integrity, investor protection, and financial stability, especially as European capital markets undergo significant transitions. CySEC’s evolution as a credible, professional, and responsible authority remains vital for Cyprus and the EU.
The anniversary is seen as a moment of pride, reflection, and responsibility, underscoring the ongoing importance of effective supervision in fostering a resilient financial system.
He congratulated CySEC on its milestone and wished it continued success in the future.
