A. CySEC Publishes DORA Fee Framework
Annual supervisory fees will range between €2,000 and €20,000, depending on the size of the entity. In addition, entities required to undergo threat-based penetration testing will be subject to a €20,000 assessment fee.
Firms must declare their category to CySEC between 2–31 October, based on their most recent audited financial statements. Annual fees are payable by 31 December and will be calculated on a pro-rata basis for the period running from mid-August to year-end.
CySEC noted that the fee structure reflects feedback from stakeholders and is designed to minimise reliance on public funds. More broadly, DORA introduces harmonised resilience standards across the EU, requiring firms to effectively manage and recover from ICT disruptions. For Cyprus-based entities, this ensures alignment with EU benchmarks and enhances operational resilience.
B. CySEC’s 2024 Supervisory Record
In its wider supervisory activities, CySEC reported that in 2024 it:
- Conducted more than 850 audits
- Reviewed 510 annual compliance reports
- Monitored derivatives transactions for 33 investment funds
- Issued administrative fines totalling €2.76 million, of which €2.12 million was imposed on Cyprus Investment Firms
The regulator also revoked a number of licenses, strengthening its enforcement framework for compliance, investor protection, and financial stability.
C. Investor Awareness Initiatives
Alongside enforcement, CySEC has introduced a new educational quiz for retail investors and traders. The 12-question quiz aims to help participants identify red flags associated with online scams, particularly in forex, CFDs, and crypto trading. The initiative reflects CySEC’s commitment to investor protection through proactive education as well as regulatory oversight.
Feel free to contact us for further professional assistance.
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.
