Giorgos Karatzias appointed as new chairman of Cyprus Securities and Exchange Commission

The Council of Ministers of Cyprus has appointed Giorgos Karatzias as the new chairman of the Cyprus Securities and Exchange Commission (CySEC). He succeeds Dr. Giorgos Theocharides, whose term concluded this September after five years of leadership. Karatzias, who previously served as executive vice-chairman at CySEC and most recently as an executive director at the Central Bank of Cyprus, will be joined by Loucas Lagoudis, who takes on the role of vice-chairman.

During his tenure, Dr. Theocharides focused on modernizing oversight, advancing digital transformation, and strictly enforcing compliance. Under his guidance, the commission imposed administrative fines exceeding €12 million, largely targeting Cyprus Investment Firms (CIFs), while revoking numerous operating licenses to ensure market integrity. His administration also navigated the transition to the new regulatory framework for Crypto Asset Service Providers (CASPs) and promoted investor education.

Following the leadership transition, Panikkos Vakkou will replace Karatzias at the Central Bank of Cyprus. The appointment of Karatzias is expected to continue the regulatory focus on European harmonization, cross-border marketing control, and the support of fintech innovation hubs, maintaining Cyprus's standing as a reliable financial services center.