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ARTICLE · 16 FEBRUARY 2011

Annual Fees Introduced By The Cyprus Securities And Exchange Commission

Harneys
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The Cyprus Securities and Exchange Commission (CySec) οn 3 December, 2010 issued a new Directive, ΟΔ190-2007-07, pursuant to Κ.Δ.Π 490/2010 regarding Issuers’ Annual Fees.

CyprusFinance and Banking
Nancy Erotocritou
Nancy Erotocritou
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The Cyprus Securities and Exchange Commission (CySec) οn 3 December, 2010 issued a new Directive, ΟΔ190-2007-07, pursuant to Κ.Δ.Π 490/2010 regarding Issuers' Annual Fees. The relevant announcement was published by CySec on 15 December 2010.

By virtue of the new Directive Issuers whose securities are admitted to trading on a regulated market and for which Cyprus is the home member state, are required to pay annual fees to CySec in respect of its supervisory role pursuant to the Transparency Law N.190(I)/2007.

The fees are to be paid by 31st of October of each year to which it relates. The submission deadline for the year 2010 was the 31st January 2011. The level of fees payable by Issuers shall be calculated by CySec and an invoice will be sent to the issuer by mail or other means.

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