G. Theocharidis, EC: The focus is on the development of alternative forms of financing

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The Hellenic Capital Market Commission will focus on the development of alternative forms of financing, with an emphasis on sustainable investments, which is a key goal of the European Union, says the new chairman of the Hellenic Capital Market Commission, George Theocharidis.

As he points out in an interview with StockWatch, it is important for anyone interested to have alternative financing options at their disposal and not to rely solely on the banking sector.

It states that the Commission is working to further develop the sector by offering new investment products and services.

He also points out that the Hellenic Capital Market Commission will continue to attach great importance to the utilization of technology and especially of financial and regulatory technology.

In this way, he says, “we ensure that the Commission remains a flexible and effective supervisory authority to continue to meet the challenges of the day.”

Stresses that the use of technology by the EC is important in strengthening its supervisory role, as well as in the further automation of its work and processes.

At the same time, he emphasizes, “we will ensure that its use by supervised entities for the provision of investment products or for compliance purposes is done on a proper basis. Market monitoring and supervision is a key role of the Hellenic Capital Market Commission, with the ultimate goal of protecting investors and healthy market development. To this end, we call on all supervised entities to comply with their respective supervisory obligations. “Those who do not comply have no place in the sector.”   

In terms of prospects, he says one of the biggest challenges for all supervisors, including the EC, is Financial and Regulatory Technology.

“Apart from the opportunities created by their exploitation, the risk they involve should be weighed, something that we are considering together with the rest of the European supervisors,” he notes.

Another important challenge, he emphasizes, is the timely adoption of European directives and regulations in the institutional framework, whether they concern supervisory issues or new developments for new products and services.

Source: https://www.stockwatch.com.cy/