CySEC Appoints Dr. George Theocharides as New Chair
- He was previously CySEC Vice-Chairman and has succeeded Demetra Kalogerou in the top role.

The Cyprus Securities and Exchange Commission ( CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision and control of the Cyprus Stock Exchange as well as transactions executed in the Stock Exchange, its listed companies, brokers and brokerage firms.Furthermore, the regulator also supervises and monitors Licensed Investment Services Companies, Collective Investment funds, investment consultants. and mutual fund management companies.CySEC’s Role in Combatting Market AbuseOne of CySEC’s most important functions is the granting of operation licenses to investment firms, including investment consultants, brokerage firms and brokers. This includes provisions for Cyprus Investment Firms (CIF), who provide and perform investment services and activities either within Cyprus or abroad on a professional basis on certain financial instruments.Finally, CySEC oversees the imposition of administrative sanctions and disciplinary penalties to brokers, brokerage firms, and investment consultants, among others. The group has been a key force in policing the forex and binary options space, which has included several legal actions and curb market abuse. Since 2016, CySEC has sought to take a more aggressive stance against illicit behavior, while also strengthening its handling of investor complaints against entities. CySEC is currently chaired by Demetra Kalogerou, who has held the role since 2011.The CySEC is administered by a seven-member Board, which consist of the Chairman and Vice-Chairman, each of whom provide their services on a full and exclusive employment basis, and five additional non-executive members.All individuals on CySEC’s Board are appointed by the Council of Ministers following a proposal of the Minister of Finance. Their service reflects a five-year term. The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision and control of the Cyprus Stock Exchange as well as transactions executed in the Stock Exchange, its listed companies, brokers and brokerage firms.Furthermore, the regulator also supervises and monitors Licensed Investment Services Companies, Collective Investment funds, investment consultants. and mutual fund management companies.CySEC’s Role in Combatting Market AbuseOne of CySEC’s most important functions is the granting of operation licenses to investment firms, including investment consultants, brokerage firms and brokers. This includes provisions for Cyprus Investment Firms (CIF), who provide and perform investment services and activities either within Cyprus or abroad on a professional basis on certain financial instruments.Finally, CySEC oversees the imposition of administrative sanctions and disciplinary penalties to brokers, brokerage firms, and investment consultants, among others. The group has been a key force in policing the forex and binary options space, which has included several legal actions and curb market abuse. Since 2016, CySEC has sought to take a more aggressive stance against illicit behavior, while also strengthening its handling of investor complaints against entities. CySEC is currently chaired by Demetra Kalogerou, who has held the role since 2011.The CySEC is administered by a seven-member Board, which consist of the Chairman and Vice-Chairman, each of whom provide their services on a full and exclusive employment basis, and five additional non-executive members.All individuals on CySEC’s Board are appointed by the Council of Ministers following a proposal of the Minister of Finance. Their service reflects a five-year term. Read this Term) appointed Dr George Theocharides as the new Chairman of the regulator on Wednesday after a decision by the Council of Ministers. He succeeded Demetra Kalogerou as her tenure as the regulatory head came to an end.
Along with the new Chairman, the regulator appointed George Karatzias as the new Vice-Chairman.
A Strong Financial Background
Dr Theocharides has been associated with the Cypriot regulator for years. He was previously the Vice-Chairman at CySEC from July 2020 and was one of its Board members before that.
He has a strong financial background with a long academic career. Before joining CySEC, he was an Associate Professor of Finance at the Cyprus International Institute of Management (CIIM) and a Director of the MSc in its Financial Services Programme from September 2010 until July 2020.
Before that, he worked as an Assistant Professor of Finance at Sungkyunkwan University in South Korea. There, he taught finance from 2006 until 2010. In addition, he was an International Faculty Fellow at the Sloan School of Management of the Massachusetts Institute of Technology (MIT).
Commenting on the recent appointment, Dr Theocharides said: “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.”
He has taken over as the regulatory head when more and more financial services firms are flocking towards the island, targeting the wider European markets. Furthermore, CySEC is focusing on attracting crypto companies that could make it one of the top crypto-friendly jurisdictions.
“I am also looking forward to building on the constructive cooperation with my counterparts from other supervisory authorities abroad, ensuring that Cyprus is able to contribute positively to the expansion and strengthening of regulatory practices and procedures across Europe and beyond,” Dr Theocharides stated.
The Cyprus Securities and Exchange Commission ( CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision and control of the Cyprus Stock Exchange as well as transactions executed in the Stock Exchange, its listed companies, brokers and brokerage firms.Furthermore, the regulator also supervises and monitors Licensed Investment Services Companies, Collective Investment funds, investment consultants. and mutual fund management companies.CySEC’s Role in Combatting Market AbuseOne of CySEC’s most important functions is the granting of operation licenses to investment firms, including investment consultants, brokerage firms and brokers. This includes provisions for Cyprus Investment Firms (CIF), who provide and perform investment services and activities either within Cyprus or abroad on a professional basis on certain financial instruments.Finally, CySEC oversees the imposition of administrative sanctions and disciplinary penalties to brokers, brokerage firms, and investment consultants, among others. The group has been a key force in policing the forex and binary options space, which has included several legal actions and curb market abuse. Since 2016, CySEC has sought to take a more aggressive stance against illicit behavior, while also strengthening its handling of investor complaints against entities. CySEC is currently chaired by Demetra Kalogerou, who has held the role since 2011.The CySEC is administered by a seven-member Board, which consist of the Chairman and Vice-Chairman, each of whom provide their services on a full and exclusive employment basis, and five additional non-executive members.All individuals on CySEC’s Board are appointed by the Council of Ministers following a proposal of the Minister of Finance. Their service reflects a five-year term. The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision and control of the Cyprus Stock Exchange as well as transactions executed in the Stock Exchange, its listed companies, brokers and brokerage firms.Furthermore, the regulator also supervises and monitors Licensed Investment Services Companies, Collective Investment funds, investment consultants. and mutual fund management companies.CySEC’s Role in Combatting Market AbuseOne of CySEC’s most important functions is the granting of operation licenses to investment firms, including investment consultants, brokerage firms and brokers. This includes provisions for Cyprus Investment Firms (CIF), who provide and perform investment services and activities either within Cyprus or abroad on a professional basis on certain financial instruments.Finally, CySEC oversees the imposition of administrative sanctions and disciplinary penalties to brokers, brokerage firms, and investment consultants, among others. The group has been a key force in policing the forex and binary options space, which has included several legal actions and curb market abuse. Since 2016, CySEC has sought to take a more aggressive stance against illicit behavior, while also strengthening its handling of investor complaints against entities. CySEC is currently chaired by Demetra Kalogerou, who has held the role since 2011.The CySEC is administered by a seven-member Board, which consist of the Chairman and Vice-Chairman, each of whom provide their services on a full and exclusive employment basis, and five additional non-executive members.All individuals on CySEC’s Board are appointed by the Council of Ministers following a proposal of the Minister of Finance. Their service reflects a five-year term. Read this Term) appointed Dr George Theocharides as the new Chairman of the regulator on Wednesday after a decision by the Council of Ministers. He succeeded Demetra Kalogerou as her tenure as the regulatory head came to an end.
Along with the new Chairman, the regulator appointed George Karatzias as the new Vice-Chairman.
A Strong Financial Background
Dr Theocharides has been associated with the Cypriot regulator for years. He was previously the Vice-Chairman at CySEC from July 2020 and was one of its Board members before that.
He has a strong financial background with a long academic career. Before joining CySEC, he was an Associate Professor of Finance at the Cyprus International Institute of Management (CIIM) and a Director of the MSc in its Financial Services Programme from September 2010 until July 2020.
Before that, he worked as an Assistant Professor of Finance at Sungkyunkwan University in South Korea. There, he taught finance from 2006 until 2010. In addition, he was an International Faculty Fellow at the Sloan School of Management of the Massachusetts Institute of Technology (MIT).
Commenting on the recent appointment, Dr Theocharides said: “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.”
He has taken over as the regulatory head when more and more financial services firms are flocking towards the island, targeting the wider European markets. Furthermore, CySEC is focusing on attracting crypto companies that could make it one of the top crypto-friendly jurisdictions.
“I am also looking forward to building on the constructive cooperation with my counterparts from other supervisory authorities abroad, ensuring that Cyprus is able to contribute positively to the expansion and strengthening of regulatory practices and procedures across Europe and beyond,” Dr Theocharides stated.