According to the Securities and Exchange Commission (CySEC), “it was determined that 158 out of the 182 licensed investment companies had no negative effects on their capital adequacy or their operations.”

CySEC had asked companies last Friday to report whether the move has impacted their business in any way, or their clients’ funds.

The rest said they had incurred some losses, but either there was no effect on their capital adequacy or, the effect was not significant.

CySEC chief Demetra Kalogerou said Cyprus-based companies have also seen a slight increase in their business due to the problems faced by their counterparts in other countries.

“CySEC has always placed particular importance on capital adequacy matters and has exercised close supervision, something it continues to do,” Kalogerou said.

Source: Cyprus Mail