Tag: Demetra Kalogerou

In July 2022, Israeli online trading veteran Shy Datika's INX Group announced that Demetra Kalogeruo would join its Board of Directors. Demetra was the Chairwoman of the Cyprus regulator CySEC for two terms, from 2011 to 2021. During that time, Shy Datika ran his CySEC-regulated binary options broker Anyoption, which he sold to debased Israeli crypto entrepreneur Moshe Hogeg in 2017 after regulatory warnings. In that respect, Shy Datika and Demetra Kalogerou are old acquaintances.

In September 2021, CySEC wanted to see off Demetra Kalogerou with an expensive party, CyprusMail reported. The farewell party was to cost the Cypriot taxpayer €10,000. However, the Auditor General’s office raised the red flag over a farewell do for a public official that would have cost the taxpayer that much money. Now Demetra and the CySEC team have said goodbye at a private New Year's Eve party as she posted on her LinkedIn page.

We have already reported about the replacement of Demetra Kalogerou as Chairwoman of CySEC. Since today it is also officially on the CySEC website - George Theocharides is the new Chairman of CySEC. The transition from Kalogerou to Theocharideshad been planned for some time. He has already served as the regulator's Vice Chairman since July 2020. Previously, he served as a member of the Interim Board of Bank of Cyprus and as Chairman of the Cyprus Blockchain Technologies Ltd. It seems that Theocharides has broad experience in finance.

Long-term CySEC Chairwoman Demetra Kalogerou already vanished from the regulator's website. George Theocharides, the current Vice-Chairman, is expected to succeed Demetra Kalogerou as Chairman. Theocharides’ appointment was arranged already a year ago. He agreed to serve first as a Vice-Chairman for 14 months alongside Kalogerou, whose term ends on September 14 after serving two terms. Demetra Kalogerou was appointed in 2011. Theocharides, 49, will become the second academic to take the helm at CySEC. The first was Marios Clerides, Financial Mirror reports.

The decision of the UK regulator FCA to revoke the passporting for the CySEC regulated forex and CFD brokers Rodeler, F1Markets, Hoch Capital, and Magnum FX (Cyprus) for the UK market cannot be overestimated. Up to now, the individual EU regulators have been rather cuddly and, in the case of problems with notoriously weak regulators such as CySEC, have relied on the excuse of a lack of competence.