CySEC Enforces Rigorous Compliance Measures Amid Increasing Regulatory Scrutiny

by THEFUTURE.TEAM

February 2, 2026

The Cyprus Securities and Exchange Commission (CySEC) has executed a series of settlements and imposed substantial administrative fines in response to violations of securities and transparency legislation by several regulated entities.

Settlements Addressing Authorisation and Reporting Failures

CySEC reached a settlement with Zorivo Limited over a potential violation of the Investment Services and Activities and Regulated Markets Law of 2017. An investigation covering the period from February 2024 to July 2025 focused on the company’s compliance with article 5(1) of the law. The settlement, amounting to €70,000, has been fully paid by Zorivo Limited.

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In a separate agreement with Zorivo Limited, the commission addressed possible breaches of articles 34(7) and 32(3) of the CySEC Law of 2009. These infractions involved the company’s failure to provide complete and accurate information during a CySEC on-site inspection on July 31, 2025, and a subsequent information request on September 2, 2025. This settlement totaled €50,000 and has likewise been fully settled.

Fines for Delayed and Incomplete Financial Disclosures

During the same regulatory session, CySEC imposed administrative fines for non-compliance with the Transparency Requirements Law of 2007 related to half-year financial report publications for the 2024 financial year. The imposition of fines underscores the importance of timely and accurate reporting to ensure market transparency and investor protection.

KDM Shipping Public Limited was penalised with a total fine of €9,500 for repeated breaches, including delays exceeding 12 months. Toxotis Investments Public Ltd faced a cumulative fine of €9,000 under similar circumstances. In addition, A. Tsokkos Hotels Public Limited and Dome Investments Public Company Limited each received fines of €5,000 for approximately nine-month delays and historical non-compliance.

MLK Foods Public Company Ltd incurred a fine of €4,750, reflecting both delayed submission and the operational impact of the Russia–Ukraine war since February 2022. Meanwhile, Karyes Investment Public Company Ltd and Unifast Finance and Investments Public Company Limited received fines of €2,250 and €1,750, respectively, acknowledging varied reporting delays and previous compliance issues.

Reinforcing the Mandate for Transparency

Further fines were levied under article 37(2)(a) for failing to submit half-year financial reports. Specifically, KDM Shipping Public Limited was fined €2,000 after missing the report deadline for the period ending June 30, 2024, while Toxotis Investments Public Ltd and MLK Foods Public Company Ltd were fined €1,500 and €1,000, respectively, for similar oversights.

Agroton Public Limited was also fined €1,000 for omitting an interim management report in its published half-year financial submission. CySEC has emphasized that all settlement proceeds are allocated to the Republic’s Treasury, reinforcing the regulator’s uncompromising stance on maintaining orderly market operations and robust investor protection.

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Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

by THEFUTURE.TEAM

June 26, 2026

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

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Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

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