CySEC Supervises 837 Entities at the End of 2022, Approves 86 Applications for Licenses

The Cyprus Securities and Exchange Commission​ (CySEC) has released its annual summery for the year of 2022, unveiling that the number of supervised entities totaled 837 at the end of 2022, growing 3.9% from 2021's 806.

Compared to 2019, before the outbreak of the pandemic, the above figure was 12% higher. Around 100 new applications are under review pending licensing at the end of 2022.

Over the last year, the Cypriot financial watchdog has approved 86 applications for licenses for all types of entities that are under its supervision. 6 applications for Cyprus Investment Firms (CIFs) licenses were rejected, and a further 15 applications were withdrawn, including applications for CIF licences and collective investments.

In addition, CySEC has imposed approximately €2.9 million administrative fines for the year, of which the vast majority was relevant to fines and settlements for CIFs.