On 23 March 2023, the Cyprus Securities and Exchange Commission published Circular 544.
Circular 544 seeks to inform the regulated entities, to which it is addressed, that the redemption of units for UCITS and AIFs will be suspended on 7 and 10 April 2023 further to CySEC’s powers to do so in safeguarding the investors’ interests and proper functioning of the market.
CySEC has further cited the fact that the settlement system for payments TARGET2 and most international stock markets will be closed on 7 and 10 April 2023 due to the Catholic Easter.
This suspension applies to UCITS and AIFs that have assets in transferable securities listed in regulated markets and whose net asset value is calculated on a daily basis.
For more information, CySEC Circular 544 can be found here.