Go to content
${facet.Name} (${facet.TotalResults})
${ item.ShortDescription }
${ item.SearchLabel?.ViewModel?.Label }
See all results
${facet.Name} (${facet.TotalResults})
${ item.ShortDescription }
${ item.SearchLabel?.ViewModel?.Label }
See all results

Regulatory Blog

Binoculars with documents in lenses

${totalItems} results

${customFilterHeading} Showing ${showingItems} of ${totalItems} results ${searchTerm}
${facet.Name} (${facet.TotalResults})
CySEC's Circular on forced transfers of Russian securities
On 11 September 2023, the Cyprus Securities and Exchange Commission (CySEC) issued Circular 596 regarding Russian Federation Federal Laws No. 319-FZ (Law 319-FZ) and No. 519-FZ (Law 519-FZ), which concern certain transfers of Russian securities, known as forced transfers, further defined below.
EU reaches provisional agreement on AIFMD II and UCITS “plain-vanilla EU investment funds”
On 20 July 2023, negotiators from the European Council and the European Parliament reached a provisional agreement on new regulations aimed at improving European capital markets and strengthening investor protection in the EU. The agreement focuses on revising the Alternative Investment Fund Managers Directive (AIFMD), broadly referred to as AIFMD II, which governs managers of various investment funds including hedge funds, private equity funds, and real estate funds in the EU. Additionally, it modernises the framework for “plain-vanilla” EU-harmonised retail investment funds known as undertakings for collective investment in transferable securities (UCITS).
Further enhancement of Luxembourg’s fund regime
On 21 July 2023, Luxembourg's Parliament voted in favour of a new fund law that implements a range of legal and tax measures aimed at enhancing the appeal of the Luxembourg financial centre and ensuring its continued prominence as a hub for alternative investment funds. The legislative changes affect five sectoral laws, namely the laws on SICARs, SIFs, RAIFs, UCIs, and AIFMs, and encompass a range of improvements and tax-related provisions. The law has entered into effect as of 28 July 2023 and is published in the Memorial A n°442, page 1.
CySEC Circular on risk-based supervision and electronic reporting for 2022
On 12 May 2023, the Cyprus Securities and Exchange Commission (CySEC) issued Circular 573 announcing the release of the new version of the RBSF-MC Form (Version 6). This form is an annual requirement for all regulated entities and collects statistical information.
CySEC suspends redemption of UCITS and AIF units
On 23 March 2023, the Cyprus Securities and Exchange Commission published Circular 544.
CSSF clarifies for the opening of cash accounts in relation to Luxembourg AIFs
On 18 October 2022, the Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) published a communication providing clarification regarding eligible entities for the opening of cash accounts in relation to the alternative investment funds.
Luxembourg: Reporting requirement for AML questionnaire by AIFs (excluding RAIFs)
The Luxembourg’s Registration Duty, Estate and VAT Authority is inviting the AML/CFT compliance officer and the person responsible for compliance with the professional obligations as regards the fight against money laundering and terrorist financing of all unregulated AIFs (excluding RAIFs) to complete and transmit the “AIF AML/CFT Questionnaire 2021” for the financial year ending in 2021.
CySEC reminds existing variable capital investment companies of 5 November deadline
On 1 September 2022, the Cyprus Securities and Exchange Commission published Circular 528 reminding existing Variable Capital Investment Companies of their obligation to effect certain changes to their constitutional documents as required under the Companies (Amendment) Law ( No. 3) Law 2021 (L. 150(I)/2021).
Special levy on income relating to real estate located in Luxembourg for Luxembourg investment funds
The Finance bill for the Financial Year 2021 introduced a special levy on rental income and capital gains deriving from real estate located in Luxembourg and held directly or indirect by investment funds (art. 4 of the law dated 19 December 2020). The Luxembourg Tax Authorities recently issued a circular dated 20 January 2022 concerning the implementation, declaration, and payment of this special levy.
${ item.Title }
${ item.Description }