12 Dec Presentation by CySEC Chairwoman on ACIIF and EIMF event

Presentation of CySEC Chairwoman at an event organized by the Association of Cyprus International Investment Firms (ACIIF) and the European Institute of Management and Finance (EIMF)

The chairwoman of CySEC Mrs. Dimitra Kalogerou, speaking to about 100 executives of firms operating in the financial industry (Investment Companies, Funds etc.) presented an overview of the Commission’s activities and accomplishments in 2016 and an overview of the upcoming changes in the legal framework affecting the industry.

Presenting at an event organized jointly by the Association of Cyprus International Investment Firms (ACIIF) and the European Institute of Management and Finance (EIMF), Mrs. Kalogerou said she will use the new tools available with the new legal framework to be implemented under new and upcoming European Directives, to combat violations by companies under the supervision of the Commission.

Mrs. Kalogerou also presented in brief the importance of the 4th European Directive on Combating Money Laundering (AMDL4), a directive which was elaborated on followed her speech by Mr. George Markides, regulatory compliance consultant at MAP S.Platis. Mr. Markides analysed the new measures to be imposed on the sector following the new directive, measures which would help the Committee on their supervisory role.

Attendees then had a chance to interact with the panelists and Ms. Kalogerou, seeking clarifications about the upcoming changes in the legal framework and CySEC’s strategy for the near future. The Chairwoman clarified that the Committee will be ruthless against anyone trying to violate the law, but at the same time it will not impose more stringent measures than those recommended by the upcoming European framework.

Mr. Demetris Taxitaris, President of the ACIIF clarified that the Association has been for years advising and supporting both the industry and the Committee, with the Association’s expertise in the sector and close ties to European Regulatory Bodies, and it will continue to do so by providing constructive comments any changes announced by the Committee.

Mr. Marios Siathas, General Manager of the EIMF in turn said that the EIMF, as the foremost expert training provider in the financial services sector, and under its continuous support to the industry, has already organized a series of seminars and conferences for educating professionals o the new and upcoming legal framework and how they can take measures to be compliant with the law. [/vc_column_text][/vc_column][/vc_row]