CySEC will “continue to protect investors”

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The new chair of the markets watchdog has pledged to continue to protect the interest of investors while helping the sector grow and adapt to new challenges, primarily in financial technologies.

Dr George Theocharides assumed duties as the new Chairman of the Cyprus Securities and Exchange Commission (CySEC) this week, succeeding Demetra Kalogerou, having been her deputy since July 2020.

George Karatzias was appointed as the new CySEC Vice-Chair.

“I am honoured to lead CySEC at such a challenging and exciting time for the industry,” said Thecoharides.

“My goal is to ensure that CySEC continues to act as a protective shield for investors but also leads the way for the sector’s healthy growth.

“Financial technologies are developing at a rapid pace, and I will work towards preserving the high standards set by CySEC over the previous years, while also ensuring it can be flexible and effective in facing the challenges that lie ahead.”

The new CySEC chair said he is looking forward to “building on the constructive cooperation with my counterparts from other supervisory authorities abroad, ensuring that Cyprus can contribute positively to the expansion and strengthening of regulatory practices and procedures across Europe and beyond.”

Before his executive position at CySEC, Theocharides was a CySEC Board member and Associate Professor of Finance at the Cyprus International Institute of Management (CIIM) and Director of the MSc in its Financial Services Programme from September 2010 until July 2020.

He had previously worked as Assistant Professor of Finance at Sungkyunkwan University in South Korea, from 2006 until 2010.

In 2006, he also worked as an International Faculty Fellow at the Sloan School of Management of the Massachusetts Institute of Technology (MIT).

Previously, he served as a Bank of Cyprus Interim Board member and Board Chair of Cyprus Blockchain Technologies Ltd.

Karatzias led Alter Domus fund services in Cyprus until 31 December 2020, having joined in 2011.

He also served as a board member and the vice-chair of the Fund Administrators Committee of the Cyprus Investment Funds Association (CIFA).

He is a Fellow member of ACCA and holds a Master’s degree in Marketing and Financial Services from the University of Exeter.

He has accumulated significant experience in international fund structuring, management and provision of ancillary, middle and back-office services, including fund administration.