The Cyprus Public Audit Oversight Board (CyPAOB) and the Cyprus Securities and Exchange Commission (CySEC) have announced that they have recently signed a Memorandum of Understanding (MoU).
The MoU was signed by Mrs Rea Georgiou, Chairwoman of CyPAOB and Mrs Demetra Kalogerou, Chairwoman of CySEC.
With this MoU, a framework and procedures for close cooperation have been established, in order to facilitate the exchange of information and more generally, the provision of mutual assistance, for the more effective exercise of the responsibilities and the achievement of the objectives of the two Supervisory Authorities.
On the basis of this MoU, the Authorities cooperate with each other to enhance the effectiveness of supervision and to address issues and violations of existing legislation where there is a common objective, thereby ensuring compliance with the relevant legislation