CySEC Releases Statistical Bulletin: CIFs Generates Income of €1.9Bn for 2020

The Cyprus Securities and Exchange Commission (CySEC) has released annual statistical bulletin for 2020.

According to the bulletin, the total number of authorized entities fell by 1 percent between 2019 and 2020 (from 494 in 2019 to 490 in 2020), which originated from a decrease in the number of administrative service providers (from 153 in 2019 to 146 in 2020). 

During 2020, the income derived from the activities of Cyprus investment firms (CIFs) amounted to €1.9 billion, while Net income amounted to €0.3 billion. Year 2020 saw the largest trading and net income. The Trading Income and the Net Income showed 65 percent and 51 percent YoY increase between 2019 and 2020, respectively. 

The total number of CIFs customers saw a significant decrease by around 33 percent between 2018 and 2019, and a significant increase by around 34 percent between 2019 and 2020. At the end of 2020, there were 1,587,300 total clients for all CIFs.

The total number of employees of all CIFs have witnessed a rise over the years. By the end of 2020, the total number of employees stood at 5,408, showing a 10% YoY increase from 2019.

The total number of CIFs witnessed a 2 percent YoY decrease between 2018 and 2019, while a 1 percent YoY increase is noted between 2019 and 2020. At the end of 2020, the total number of CIFs was 228. CySEC regulated and supervised a total of 788 entities by the end of 2020.

Last week, CySEC issued a policy statement​, saying that it will give certain firms permission to operate under the Temporary Permissions Regime (TPR) until their applications are reviewed.