The Cyprus Securities and Exchange Commission (CySEC) has issued Circular C709 to inform regulated entities in Cyprus about a new initiative from the European Securities and Markets Authority (ESMA): a voluntary survey designed to assess the level of Artificial Intelligence (AI) adoption across financial institutions in the Securities Sector.
At Konkrit Solutions, we strongly support forward-looking regulatory initiatives and innovation in financial services. This survey represents an important step towards understanding how AI is shaping the financial ecosystem, and offers a valuable opportunity for firms to contribute to a collective view of AI maturity and application across Europe.
What Is the ESMA AI Survey?
The ESMA survey aims to collect information from financial institutions on:
- AI strategies and policies
- Level of investment in AI
- Types of AI technologies being used
- Key use cases, including risk, security, and explainability concerns
All responses will be collected in an aggregated and anonymised form, used solely for analytical purposes. This initiative is part of ESMA’s broader efforts to monitor emerging technologies and ensure that innovation is aligned with sound regulatory oversight.
Who Should Participate?
CySEC has extended the invitation to a broad range of regulated entities, including:
- Cyprus Investment Firms (CIFs)
- AIFMs, UCITS Management Companies, and Internally Managed Funds
- Crypto Asset Service Providers (CASPs)
- Crowdfunding Service Providers (CSPs)
- The Cyprus Stock Exchange (CSE)
- And other related entities
While participation is voluntary, CySEC strongly encourages all entities to contribute, regardless of their current level of AI implementation.
How to Participate
Entities can access and complete the survey via the official EU survey platform.
Why It Matters
As the financial services landscape evolves, AI is increasingly at the core of decision-making, compliance automation, client personalization, fraud detection, and risk management. By participating in this survey, financial institutions not only support regulatory insight but also gain perspective on how they benchmark against peers in AI maturity.
At Konkrit Solutions, we assist regulated entities in understanding and adopting responsible AI technologies. From gap assessments to AI governance and strategy consulting, we’re here to support your journey.
Need help preparing for AI-related compliance or strategic planning?
Contact our team today at info@konkritsolutions.com.
