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🇨🇾Cyprus · EU member

Cyprus Securities and Exchange Commission

CySEC · Securities regulator
Nicosiawww.cysec.gov.cy
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FY2025 · as of 31 December 2025Published figures unless marked

Employees193employees, as of 2024 (latest published AR)
Annual budget€17.5mFY2025 budget (not actuals)
Supervised entities808supervised entities

Overview

CySEC is the securities and markets regulator of Cyprus and the supervisor behind one of the EU's largest investment-firm hubs, overseeing 808 entities including 252 Cyprus Investment Firms. In 2025 it ran roughly 600 on-site and off-site inspections, granted 47 new licences — among them 8 crypto-asset service providers under MiCA — and imposed €2.3 million in fines and settlements. With Cyprus holding the EU Council Presidency in the first half of 2026, CySEC hosts the ESMA Management Board and Board of Supervisors in April 2026. Everything below is CySEC's own data, from its FY2025 annual results presentation.

Regulated sectors

4
Investment firmsAsset managersCrypto-asset service providersSecurities markets

Figures as published by Cyprus Securities and Exchange Commission for FY2025. Source: CySEC press conference on 2025 supervisory results (21 January 2026). Data as of 31 December 2025. Supplementary: CySEC Annual Statistical Bulletin.

Leadership

2
George Theocharides

Chairmansince 2021

Panikkos Vakkou

Vice-Chairmansince 2024

Full board

Organisation (FY2025)

Employees
193Latest CySEC-published figure (Annual Report 2024); FY2025 headcount pending in the next AR
Budgeted revenue / expenditure
€15.5m / €17.5mFY2025 budget (House submission), not actuals; projected €2m deficit

Supervised entities (end-2025)

Supervised entities — total
808+2.53% over 2020–2025
Cyprus Investment Firms (CIFs)
252Q3 2025; total assets €4.5bn
Administrative Service Providers
128Q3 2025; assets €134.79m
Crypto-asset service providers (CASPs)
19CySEC figure, December 2025
AUM in collective investment schemes
€11.4bnQ3 2025; ~25% invested domestically

Licensing 2025

New licences granted
4726 collective investments · 12 investment services · 8 CASPs · 1 ASP
Applications rejected / withdrawn
1 / 5Investment-firm licence applications, 2025
Licences suspended or revoked
4Investment-firm cases, 2025

Supervisory activity 2025

Inspections (on-site + off-site)
~600Incl. 43 thematic AML inspections
Estimate
Referrals
2 to police · 5 to Attorney GeneralPlus information to MOKAS in 2 further cases

Enforcement 2025

Fines & settlements
€2.3mCalendar year 2025; €1.3m of it on CIFs; 3-year total €7.3m

Notable 2025

Second-largest MiCA authorizer in the EU
8 CASP licences granted in 2025 alone.
EU Council Presidency prep
Cyprus holds the EU Council Presidency in H1 2026; CySEC hosts the ESMA Management Board and Board of Supervisors in April 2026, with 15+ CySEC officials in expert roles on EU legislative files.
"Finfluencers" thematic review
Ran a dedicated thematic review of investment promotion via social media as an emerging-risk priority.
Modernisation programme
Launched a multi-year project to automate licensing and examination management, and began ISO/IEC 27001 certification.
2026 hiring plan
31 officers · 5 secretarial assistants · 3 IT specialists.
Financial-literacy programme
1,700+ students reached across 44 schools in 2025.

Key legislation

4
Cyprus Securities and Exchange Commission Law of 2009 (L.73(I)/2009)

Establishes CySEC as the independent public supervisory authority

Investment Services and Activities and Regulated Markets Law

Cyprus Investment Firm (CIF) authorisation — MiFID II

MiCA implementing framework

CASP authorisation and supervision

AML/CFT Law (Prevention and Suppression of Money Laundering Activities Law)

AML supervision of CIFs, ASPs and CASPs

Registers, portals and publications

Application portals

CySEC TRS / e-portal
Data as of 31 December 2025 · Source: www.cysec.gov.cy + ComplyBridge researchActivity Index methodology →