About the Regulatory Blog and our contributors
The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Anguilla, Bermuda, Cyprus, and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.
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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.
18 Sep 2023
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).
23 Aug 2023
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.
30 May 2023
CySEC suspends redemption of UCITS and AIF units
On 23 March 2023, the Cyprus Securities and Exchange Commission published Circular 544.
03 Apr 2023
CSSF launched a Standardised Model Prospectus for examination for approval of new UCITS
On 17 November 2022, Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) issued a press release announcing the availability of a Standardised Model Prospectus that applicants can use to submit an application for approval of a new UCITS.
29 Nov 2022
Cyprus amends UCITS Law to streamline KID/KIID requirements
On 7 October 2022, Cyprus implemented changes to the Undertakings for the Collective Investment in Transferable Securities (Amendment) Law 2022 which transposes Directive (EU) 2021/2261 into national law.
31 Oct 2022
CSSF issues circular on UCI administrator developments and requirements
On 16 May 2022, Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF), taking into consideration the growth in the field of UCI administration, released Circular 22/811 confirming administrative practice and requirements concerning governance and internal organisation.
31 May 2022
CSSF advises on the improvement of Risk-Based Supervision
On 22 December 2021, the Commission de Surveillance du Secteur Financier (CSSF) published Circulars 21/788, 21/789 and 21/790 aiming to improve the Risk-Based Supervision of the CSSF, for prudential and AML/CFT purposes regarding investment fund managers (IFMs) and undertakings for collective investment (UCIs).
22 Dec 2021
CySEC issues statement on its post-Brexit Temporary Permission Regime
On 14 December 2021, the Cyprus Securities and Exchange Commission (CySEC), published the Policy Statement (PS 02-2021) notifying the industry on changes to admissions criteria for UK financial institutions operating under the regulator’s Brexit-related Temporary Permission Regime (TPR).
15 Dec 2021