The Cyprus Securities and Exchange Commission aims at regaining investor confidence and restoring the credibility of the financial system.

Chairwoman of the Commission, Demetra Kalogirou, says that by the end of 2014 the Commission will introduce a new automated system of risk based supervision, as requested by the Troika of international lenders. Kalogirou said that CSEC is supervising around 350 companies.

In addition to the supervision of the companies listed in the Cyprus Stock Exchange, the chairwoman said the Commission also has to examine around 20 applications concerning provision of investment services, around180 applications of management companies, which have been already established in Cyprus and must be supervised by the Commission, and several applications from companies managing alternative investment funds.