CFA Society Cyprus and the Cyprus Compliance Association (CCA) have announced the signing of a memorandum of understanding (MoU).
According to the announcement, this aims to “elevate transparency and professional standards in Cyprus’ financial markets“.
The agreement, sealed by Andrea Moundi Savvides and Nikos Potamaris, presidents of the CCA and the CFA Society Cyprus respectively, was enacted before an assembly of both boards.
This partnership marks a significant stride towards embedding a culture of accountability and professionalism across the financial sector.
Under this memorandum, a key benefit highlighted is the enhancement of professional development opportunities.
Industry professionals will have access to a broad array of seminars, workshops, and training programmes tailored to current compliance, risk management, and governance needs.
“This strategic co-operation between our associations emphasises our dedication to reinforcing the integrity of financial markets, crucial for bolstering investor confidence in Cyprus’ financial infrastructure,” was mentioned in the announcement.
The collaboration extends beyond educational initiatives. It aims to foster rigorous research, promote insightful publications, and stimulate innovative policy recommendations.
By doing so, both associations aspire to proactively address the evolving challenges facing the Cypriot financial markets.
Moreover, the partnership will facilitate a more constructive dialogue between financial professionals and regulatory bodies.
The goal is to cultivate an open and effective communication channel that aids in shaping a robust regulatory framework.
In addition, through co-organised events and other collaborative activities, the associations seek to cultivate a dynamic professional network.
As mentioned, these platforms will encourage the exchange of innovative ideas and solutions to tackle compliance-related challenges, further enriching the professional landscape.
The collaboration’s effectiveness was already evidenced by the successful co-organisation of a seminar titled ‘Financial Compliance Awareness’.
The event attracted key players with expertise in financial regulation, compliance, risk, and governance, highlighting the critical need to address the challenges posed by the dynamically evolving regulatory environment.