The Cyprus Securities and Exchange Commission has issued a call for expressions of interest to lease additional office space in Nicosia to accommodate part of its staff, according to a notice published on its website.

Regulator Plans Lease for Staff Offices

The regulator is seeking office premises of around 500 square metres, with a margin of plus or minus ten percent, located within approximately 800 metres of its existing headquarters, which is at 19 Diagorou Str., 1097 Nicosia, Cyprus.

• IG Reports £271M in Net Trading Revenue as UK and Ireland Stock Volumes Nearly Double
• IG CEO Joins Sportradar Board as Gaming Firm Eyes Entering Prediction Markets
• CFD Brokers Are to Update Policies Ahead of FCA Non Financial Misconduct Rules

The space must also include storage facilities and meet accessibility, security, and technical requirements suitable for housing about 30 employees. The building must be ready for delivery, including any requested modifications, by the end of April next year.

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 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 Read this Term said the initial lease period will not exceed three years, with options to extend for up to two additional one-year terms. While the invitation does not constitute a commitment to rent or purchase, the commission noted that proposals will be evaluated based on value for money rather than price alone.

The #CySEC family is growing. The new recruits are undergoing a three day introductory and orientation process, which includes learning about the organization and its structure, culture, vision, mission and values. pic.twitter.com/6JcLOzYGfk

— CySEC - Cyprus Securities and Exchange Commission (@CySEC_official) July 4, 2023

Growing Market Prompts CySEC Headcount Increase

The search for additional office space coincides with an expansion of CySEC’s workforce. Since September 2021, the commission has added 32 new staff members, many in supervisory roles, and plans to hire an additional 42 employees to support its supervision departments, as reported by Finance Magnates earlier. These measures reflect the growing market and increasing regulatory requirements.

CySEC now regulates and supervises approximately 840 entities. The commission continues to adjust its resources and processes to maintain oversight and ensure investor protection in Cyprus and abroad.