CySEC enhances regulatory capability through new technologies

<img width="562" height="338" src="https://www.leaprate.com/wp-content/uploads/2021/04/CySEC-regulation.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="CySEC regulation" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2021/04/CySEC-regulation.jpg 880w, https://www.leaprate.com/wp-content/uploads/2021/04/CySEC-regulation-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2021/04/CySEC-regulation-730×438.jpg 730w, https://www.leaprate.com/wp-content/uploads/2021/04/CySEC-regulation-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2021/04/CySEC-regulation-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2021/04/CySEC-regulation-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2021/04/CySEC-regulation-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2021/04/CySEC-regulation-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>Additionally, CySEC will expand its supervisory team to increase the level and frequency of supervision. Since October 2021, 32 new staff members have joined the regulator, 15 of whom have supervisory duties.</p>
<p>CySEC has also adopted Big Data management systems so that the regulator is able to quickly screen big volume of trading activity data in order to automatically detect risks and irregularities early on. This will help take proactive action against them.</p>
<p>The Cypriot watchdog is also designing a Data Governance Framework (DGF) that will provide a comprehensive approach to managing CySEC data. The framework will automate many of its internal processes to help simplify procedures and ensure issues can be proactively addressed.</p>
<p>CySEC is also developing Enterprise Risk Management Framework (ERM-F) to support effective risk management as a continuous and evolving procedure</p>
<p>Dr Theocharides added that this ongoing modernisation of the regulatory framework of the securities market has a very high priority for <a target="_blank" href="https://www.leaprate.com/forex/regulations/cysec-to-allow-uk-firms-looking-to-establish-presence-in-europe-to-operate-after-tpr-deadline/" rel="noopener">CySEC</a>.</p>
<p>In the UK, the <a target="_blank" href="https://www.leaprate.com/forex/regulations/fca-strengthens-rules-on-promotion-of-high-risk-financial-products/" rel="noopener">FCA recently took a stand</a> in strengthening its rules on the promotion of high-risk financial products.</p>
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