The Cyprus Securities and Exchange Commission is investigating complaints for price manipulation of the Bank of Cyprus stock, SEC Chairwoman, Demetra Kalogirou stated on Monday.
"As regards to the listing of Bank of Cyprus in the stock exchange, we had some complaints to the SEC that may be considered as price manipulation because the orders introduced were at a much lower price than the actual”, Ms. Kalogerou noted and explained that the issue is investigated and SEC will arrive at some conclusions soon.
Ms. Kalogirou had a meeting today with the Secretary of AKEL, Andros Kyprianou, who was briefed on the Commission's budget for 2015, a budget that also provides for the opening of seven new job posts.
On the question whether investigations on the banking sector have been completed, she reiterated that efforts are being made to have the investigations completed by mid 2015.
She stressed that there are several issues that are under investigation and appeared optimistic that the results will be out very soon.
"As regards to the listing of Bank of Cyprus in the stock exchange, we had some complaints to the SEC that may be considered as price manipulation because the orders introduced were at a much lower price than the actual”, Ms. Kalogerou noted and explained that the issue is investigated and SEC will arrive at some conclusions soon.
Ms. Kalogirou had a meeting today with the Secretary of AKEL, Andros Kyprianou, who was briefed on the Commission's budget for 2015, a budget that also provides for the opening of seven new job posts.
On the question whether investigations on the banking sector have been completed, she reiterated that efforts are being made to have the investigations completed by mid 2015.
She stressed that there are several issues that are under investigation and appeared optimistic that the results will be out very soon.
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