ORECAST FOR THE SEA AREA OF CYPRUS (C)
FOR THE PERIOD FROM 1800 14/09/2026 UNTIL 1800 15/09/2026
Area covered is 8 kilometers seawards.
Winds are in BEAUFORT scale. Times are local times.
Atmospheric pressure at the time of issue: 1011hPa (hectopascal)
Seasonal low pressure is affecting the area. The weather will be mainly fine.
Visibility: Good
Sea surface temperature: 29°C
Warnings: NIL
AREA PERIOD WIND STATE OF SEA
West Coast
Night West to Northwest 3 to 4, gradually near the coast Northwest to North 3 Slight
Morning Southwest to West 3, gradually 3 to 4 Slight
Afternoon West to Northwest 4, locally 5 Slight
South Coast
Night Southwest to Northwest 3 to 4, later near the coast 3 Slight, later near the coast Smooth to Slight
Morning Southeast to Southwest 3, gradually Southwest to West 3 to 4 Smooth to Slight, gradually Slight
Afternoon Southwest to West 4 to 5, locally 5 Slight
East Coast
Night Southwest to Northwest 3 Smooth to Slight
Morning Variable 3, gradually South to Southwest Smooth to Slight
Afternoon South to Southwest 3 to 4, locally 4 Smooth to Slight
North Coast
Night Southwest to West 3 to 4, locally near the coast South to Southwest 3 Slight, locally near the coast Smooth to Slight
Morning South to Southwest 3 to 4, gradually Southwest to West Slight
Afternoon Southwest to Northwest 3 to 4, locally 4 to 5 Slight
_: Based on the latest statistics from June 2026, the number of entities supervised by the Cyprus Securities and Exchange Commission stood at 815, representing a 1.12 per cent increase compared with the end of 2021.
According to the Commission, as a result of supervisory audits and investigations, total administrative penalties exceeding pound 12 million have been imposed over the last five years, whilst 20 cases were referred to the Attorney General of the Republic to determine whether any criminal offences had been committed by companies or individuals.
In a review published on Monday, CySEC outlines the key achievements, initiatives and developments for the period 2021-2026, highlighting its ongoing efforts to shape a modern, reliable and competitive supervisory environment for the benefit of investors, the market and the Cypriot economy more broadly.
According to the review, despite the significant challenges and ongoing uncertainties of the international economic environment over the past five years, the Cypriot capital market has demonstrated remarkable resilience and growth momentum.
According to the latest statistics from June 2026, the number of entities supervised by the CySEC stood at 815, representing an increase of 1.12 per cent compared with the end of 2021, whilst, at the same time, 63 new applications for licences covering various types of supervised entities are currently under consideration, a fact which confirms the ongoing interest in operating within and further developing the capital markets sector.
With regard to the Commission’s supervisory work, it is noted that over the past five years the CySEC has continued to invest in its technological modernisation and the prudential supervision of the sector, ensuring an effective framework for investor protection and the smooth functioning and sound development of the market.
In particular, specialised electronic systems and other technological supervisory tools were developed or acquired to strengthen supervisory checks by the relevant departments, such as the strengthening of supervisory checks on investment firms, particularly with regard to the use of aggressive or misleading marketing practices or other methods which pose risks to investors and are not in line with the legislation governing investment services, known as MiFID II.
Over the past five years, more than 4,000 on-site, remote and thematic inspections have been carried out on supervised entities by the Departments of Supervision and Prevention of Money Laundering. The competent Departments also scrutinised a vast amount of documentation and other evidence submitted annually by supervised entities to the CySEC, whilst the Investigations Department carried out hundreds of raids and investigations at companies over the five-year period.
With regard to the imposition of fines and other measures, CySEC reports that, as a result of supervisory audits and investigations, total administrative sanctions (fines and settlements) amounting to over pound 12 million were imposed over the last five years, of which over pound 9 million were imposed on investment firms and approximately pound 1 million on issuers for breaching the provisions of the legislation governing them, whilst the remaining amount was imposed on other supervised entities, with these sums being paid into the Permanent Fund of the Republic of Cyprus.
In addition to the penalties, corrective measures were requested in more than 800 cases, whilst over the five-year period, 8 CIF licences were revoked, and a further 47 CIFs voluntarily surrendered the licences they held.
Furthermore, CySEC rejected 10 applications for a CIF licence, with the applicants themselves withdrawing a further 22 applications, while 20 cases were referred to the Attorney General of the Republic to determine whether any potential criminal offences had been committed by companies or individuals.
With regard to investor protection, it is noted that, over the five-year period in question, great emphasis was placed on this area and a wide range of specialised initiatives were carried out to promote financial literacy and inform the investing public, ranging from the publication of practical guides for investors as part of international initiatives, to participation in global campaigns, through educational activities, talks at schools and universities, as well as collaborations with bodies and organisations.
On the legislative front, key developments include the implementation of the European framework for Crowdfunding Service Providers and Pan-European Personal Pension Products (PEPPs), as well as the preparation and implementation of the Markets in Crypto-Assets Regulation (MiCAR), the Digital Operational Resilience Act (DORA) and the Distributed Ledger Technology (DLT) Pilot Regime.
It is also noted that the new legislative framework on Restrictive Measures and Sanctions in Cyprus has entered into force, under which, amongst other things, the National Sanctions Implementation Unit (EMEK) and the Advisory Committee on Sanctions was established with the participation of the supervisory authorities.
It is added that the Authority for Combating Money Laundering and the Financing of Terrorism (AMLA) commenced operations in 2025 and the CySEC participates fully in its work, participating in and closely monitoring the activities of both the AMLA General Council and its internal committees and individual working groups.
According to CySEC MONEYVAL’s 3rd Progress Assessment Report in 2024 notes a significant improvement in Cyprus’s technical compliance within the AML/CFT framework, with Recommendation 15 being upgraded to ‘largely compliant’, a development that reflects the measures taken by CySEC and other competent authorities, particularly in the area of crypto-assets.
On the technological front, the review highlights the implementation of the Central Trust Register system in 2022 and the creation of an Enterprise Risk Management Framework, strengthening CySEC’s internal and external risk management, whilst in June 2024 the Commission launched the Regulatory Sandbox, creating a structured framework for engaging with innovative financial solutions and technologies.
With regard to the programme of events, it is noted that CySEC hosted in Nicosia the European Regional Committee (ERC) of IOSCO, attended by more than 52 representatives from 57 supervisory authorities, while in April 2026, CySEC hosted in Cyprus the meetings of the Board of Supervisors and the Management Board of the European Securities and Markets Authority (ESMA) in Cyprus, as part of the Cypriot Presidency of the Council of the European Union.
Furthermore, to mark 30 years of supervision, an anniversary conference was organised, which was broadcast live via CySEC’S YouTube channel, with speakers including the President of the Republic of Cyprus, the Chair of ESMA, the Chair of IOSCO and other European supervisors.
The conclusion of Cyprus’s Presidency of the Council of the European Union marks an important milestone for Cyprus and for the CySEC, it is further noted, adding that the active participation of more than 15 CySEC officials in the Council’s negotiations and technical work highlighted the Commission’s expertise, responsibility and substantial contribution to the shaping of the European regulatory framework for financial markets.
‘Guided by the experience of recent years and committed to the principles of transparency, integrity and innovation, CySEC has every assurance that it will continue to work towards strengthening a modern, effective and reliable supervisory framework, with a focus on enhancing investor protection and the competitiveness of the Cypriot capital market’s position as an international centre for financial services, for the benefit of the economy and society at large’, the Commission concludes.