Reports Indicate George Karatzias Set to Take Over as CySEC Chairman

Industry reports point to a major leadership change at the Cyprus Securities and Exchange Commission (CySEC), with George Karatzias heavily favored to become the new Chairman. Local news sources indicate that Karatzias will take the helm from outgoing Chairman Dr George Theocharides, whose tenure began back in September 2021.

Karatzias is no stranger to the regulatory body, having previously held the position of CySEC Vice-Chairman between 2021 and 2024. Following that role, he transitioned to the Central Bank of Cyprus, where he served as an Executive Board Member, gaining further institutional finance experience.

Alongside Karatzias, reports also highlight that Loukas Lagoudis is tipped to step into the role of Vice-Chairman. Lagoudis currently serves as a CySEC board member and brings a strong background in risk management and investment banking to the leadership team.

Dr George Theocharides, the outgoing Chairman, took over the top post in 2021 after succeeding Demetra Kalogirou. Under his leadership, CySEC navigated a period of intense regulatory scrutiny and shifting compliance standards across the European retail brokerage sector.

An official announcement regarding the appointments is expected following the upcoming session of the country's Council of Ministers. The council is set to officially review and approve the leadership nominations for the regulatory authority.

For retail forex and CFD brokers operating under a CySEC license, leadership continuity and regulatory enforcement priorities remain a key focus. Market participants will closely watch how the new executive team approaches cross-border compliance and supervision moving forward.