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ARTICLE · 19 JULY 2021

Country Update-Cyprus: Securities & Banking

Elias Neocleous & Co LLC
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The relevant regulatory bodies established in Cyprus for the licensing, supervision and control of legal entities carrying on banking, investment and ancillary services and insurance business...

CyprusFinance and Banking
Elias Neocleous
Elias Neocleous
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The relevant regulatory bodies established in Cyprus for the licensing, supervision and control of legal entities carrying on banking, investment and ancillary services and insurance business are the Central Bank of Cyprus, the Securities and Exchange Commission and the Insurance Companies Control Service of the Ministry of Finance (the Insurance Companies Control Service) respectively.

The Central Bank of Cyprus (CBC) was established in 1963 as an autonomous institution. Its main functions today include the implementation of the European Central Bank's (ECB) monetary policy decisions, holding and managing the official and international reserves, supervising financial institutions, safeguarding the stability of the financial system, promoting, regulating and overseeing the smooth operation of payment and settlement systems, acting as banker for the government, preparing statistical data for the ECB and participating in the international monetary and economic

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