Balanced with expected revenues of € 13.2 million, the Budget of the Hellenic Capital Market Commission for 2022 is presented, which was examined today by the Finance Committee of the Parliament.
In addition, as stated before the Commission, there is a significant problem in the collection of fines.
In his statements after the end of the meeting of the Committee, the Nicosia MP of DIKO and chairman of the Parliamentary Committee on Finance Chrysis Pantelidis said that at today's meeting of the Parliamentary Committee on Finance they examined, among other things, the Budget of the Hellenic Capital Market Commission for 2022. which is presented balanced with expected revenues of € 13.2 million “, as he stated.
According to what has been said, Mr. Pantelidis continued, the Hellenic Capital Market Commission until October 2021, supervises a total of 786 entities, compared to 247 in 2011, ie in a decade there was an increase of 218%.
He said that despite the strong growth trend in the supervision of entities, however, there is a significant problem in the collection of fines, which amount to more than 21 million euros, which deprives the state of significant revenues.
In addition, said Mr. Pantelidis, there seems to be interest in licensing companies dealing with digital currencies.
“When I asked the Chairman of the Hellenic Capital Market Commission about the existence of an integrated legal framework for the supervision of this emerging market, the President said that a relevant directive is being prepared by the European Union so that there is a uniform approach to this issue,” he said.
“As a Democratic Party, we consider it absolutely necessary to establish such a supervisory framework, in order to combat the phenomena of money laundering or the deception of unsuspecting citizens,” he added.
In his own statements, the MP of DIPA, Alekos Tryfonidis, said in his statements that “the issue of digital currencies and the dangers that lurk in unsuspecting citizens, so that we do not have old stories and misdeeds, where Cypriot citizens were robbed” emerged.
“The Hellenic Capital Market Commission and its Chairman assured that this institution will be thoroughly supervised, so that we do not reach old times where the Cypriot society was looted,” he added.
As he said, a second one that emerged was the uncollected fines, which amount to 30 million, “where we were typically told that a businessman-publisher owes 7 million to the Cypriot state”.
“The proceedings are difficult and time consuming with the courts. “We raised the issue of equal treatment that must be done in relation to compromises so that cases do not go to court, because all these time-consuming procedures affect the credibility of Cyprus as a financial center”, he concluded.