CYPRUS: Cyprus Securities and Exchange Commission issue circular on registration of AIFMs

Wednesday June 4 2014

The Cyprus Securities and Exchange Commission have issued Circular CI56-2014-20 regarding the arrangements for registration of Alternative Investment Fund Managers (AIFMs) who do not exceed the threshold of section 4(2) of the Alternative Investment Fund Managers law of 2013 (L.56 (I)/2013)

The purpose of the circular is to draw attention to the previous Circular CI56-2013-01 issued in July 26, 2013.

The relevant entities that are obliged to register include the following non-exhaustive list;

•  IFs authorised under the Investment Services and Activities and Regulated Markets Law or Credit Institutions that manage International Collective Investment Schemes licensed under the International Collective Investment Schemes La w of 1999 and other AIFs;
• Self-managed international collective investment schemes licensed under the International Collective Investment Schemes law of 1999; and
• Approved investment companies of the Cyprus Securities and Stock Exchange Law if they are self-managed, or their manager if they are externally managed.

Registration to the Commission’s register is a legal obligation and all entities that fall within the scope of section 4(2) of the law should comply with the provisions of section 4(3). Non-compliance with the relevant provisions may lead to administrative action by the Commission in accordance with section 74 of the law.

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