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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ESMA seeks input on Liquidity Management Tools for funds
On 8 July 2024, the European Securities and Markets Authority initiated a consultation on draft guidelines and technical standards under the revised Alternative Investment Fund Managers Directive and the Undertakings for Collective Investment in Transferable Securities Directive. These directives aim to enhance financial stability and standardise liquidity risk management across the investment funds sector.
15 Jul 2024
CySEC clarifies its position on the “authorisation date” for licensed entities
On 4 April 2024, the Cyprus Securities and Exchange Commission (CySEC) published Circular C628 informing all entities under its supervision of the following
17 Apr 2024
AIFMD II published in the Official Journal of the European Union
On 26 March 2024, Directive (EU) 2024/927 amending the Alternative Investment Fund Managers Directive 2011/61/EU and the Undertaking for Collective Investment in Transferable Securities Directive 2009/65/EC was published in the Official Journal of the European Union.
09 Apr 2024
CSSF updates FAQ for guidelines for UCIs investing in Virtual Assets
On 22 February 2024, the Commission de Surveillance du Secteur Financier revised its FAQ on Virtual Assets for Undertakings for Collective Investment relating to the promotion of UCIs engaged in direct or indirect investment in virtual assets.
11 Mar 2024
The European Parliament has adopted the AIFMD 2.0 text
On 7 February 2024, the European Parliament adopted the final version of the text amending the Alternative Investment Fund Managers Directive (AIFMD 2.0).
16 Feb 2024
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
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.
28 Jul 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