1. Proposed fees and charges - CySEC has outlined a detailed fee structure for:

• Application fees: Covering UCI Administration Functions for UCITS, AIFs, and other investment funds, with a standard fee of EUR 500 per function.
• Ancillary functions: A EUR 10,000 fee for holding investors' money, applicable only as a supplementary function.
• License extensions: Fees for the extension of a licence to cover additional administration functions to existing licenses are charged at EUR 500.
• Notifications: Fees for reporting material changes, such as changes to the Board of Directors (EUR 2,000 per change) or outsourcing arrangements (EUR 1,000 per notification).
• Annual fees: EUR 600 per administration function, with specific provisions for proportional fees in cases of mid-year license issuance or withdrawal. The annual fees are paid pro-rata to the time-period for which the authorisation is held, if authorisation is granted or withdrawn during the year.

2. Material changes - The paper elaborates on what constitutes a "material change" under L.101(I)/2025, including:

• Operational memoranda: Significant changes to tasks among parties, procedural changes, or significant alterations to operational risk management measures outlined in the memorandum.
• Indemnity insurance: Changes to the provider or substantial terms of the professional indemnity insurance policy.
• Outsourcing arrangements: Modifications to outsourcing agreements or related terms.

3. CySEC’s discretionary powers - The law grants CySEC authority to further elaborate, when necessary, on provisions related to licensing, suspension and revocation of authorisations, as well as organisational requirements and conflict-of-interest management.

4. Stakeholder participation - CySEC encourages stakeholders, including market participants and investors, to provide their views on the proposed measures. Responses must be submitted by 30 January 2026. Submissions should be concise and follow the order of questions outlined in the paper.

For more information the press release can be found here and the consultation paper here