The Cyprus Securities and Exchange Commission (“CySEC”) and the National Betting Authority (“NBA”) have signed today 23 August 2019, a Memorandum of Understanding (“MoU”). The MoU has been signed by Mrs. Demetra Kalogerou, Chairwoman of CySEC and Mrs. Ioanna Fiakkou, Chairwoman of NBA.

With this MoU, a framework and procedures for cooperation have been established, in order to facilitate the exchange of information and more generally, the provision of mutual assistance, for the more effective exercise of the responsibilities and the achievement of the objectives of the two Authorities.

On the basis of this MoU, the two Authorities cooperate with each other to enhance the effectiveness of supervision and to address issues and violations of existing legislation where there is a common objective, thereby ensuring compliance with the relevant legislation.

CySEC and the NBA participate in the Advisory Authority pursuant to the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007 to 2019 (Law 188 (I) / 2007) and cooperate on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.

Nicosia, 23 August 2019