CySEC launches economy impact survey for supervised entities

The Cyprus Securities and Exchange Commission (CySEC) has launched a comprehensive survey aimed at measuring the economic impact of the entities under its supervisory and registration remit.

The initiative targets Cyprus Investment Firms, branches of foreign investment firms, AIFMs, ASPs, internally managed AIFs and UCITS structures, crypto asset service providers and listed companies, bringing the full spectrum of regulated activity into scope.

According to CySEC, the survey seeks to gain insights into market dynamics, regulatory impact, operational challenges and future outlooks from the perspective of supervised entities.

The responses will be used for an aggregated and anonymised analysis conducted by KPMG, highlighting the importance of CySEC as a supervisory authority based on the direct and indirect economic contribution of the sectors it oversees.

CySEC stressed that KPMG will only have access to anonymised responses and will not receive any information capable of identifying individual entities.

The regulator explained that the objective is to quantify the direct economic impact of supervised entities and assess their economic interconnectedness within the Cyprus economy.

By collecting company fundamentals and identifying appropriate structural coefficients, the study will also estimate indirect and induced economic effects, including private consumption, capital investment and job creation.

CySEC defined direct impact as the revenue and expenditure generated by supervised entities, indirect impact as spending within their supply chains, and induced impact as employee spending across the wider economy.

The questionnaire is addressed to senior executives and heads of compliance, risk, operations, legal, finance and technology departments within regulated entities.

All entities authorised or registered with CySEC and operational as of December 31, 2025 are expected to participate.

The reporting period covers January 1, 2025 to December 31, 2025, with a reference date of December 31, 2025.

CySEC set February 27, 2026 as the deadline for submission of the completed online questionnaire.

Participants are instructed to report Cyprus operations only, with groups required to include solely their Cyprus-licensed or registered entity or branch.

AIFMs and UCITS management companies may respond using aggregate figures for the funds they manage, while entities holding dual licences may submit aggregated data across services and products.

Amounts must be reported in euro, rounded to the nearest euro, using the European Central Bank exchange rate as at December 31, 2025, while VAT must be excluded from all figures.

Entities may rely on management accounts or audited financial statements, and where questions are not applicable, respondents should insert N/A or zero as appropriate.

CySEC confirmed that the questionnaire must be completed in English, with confirmation of submission sent by email.

For technical or substantive queries, entities may contact the commission.

Respondents using the online form will see the message “Your response was submitted” after clicking submit, confirming successful completion.

CySEC clarified that responses may be printed, edited and resubmitted, with the most recent submission deemed final and superseding all previous versions.

Entities without a Microsoft account may resubmit the questionnaire from the original link, provided that the correct TRS code and entity name are entered.

The regulator strongly encouraged participants to review the PDF version of the questionnaire in advance, noting that different sections apply to listed companies and non-listed entities.

CySEC underlined that the questionnaire does not collect sensitive or personal data, such as names or personal contact details.

All information will be kept confidential, processed in line with GDPR, and reported strictly in aggregate form.

The collected data will be used solely for the economic impact study, with no further processing or publication of identifiable information without consent.

Through this exercise, CySEC aims to deliver a clear, evidence-based picture of the regulated sectors’ contribution to Cyprus and their footprint across the European Economic Area.