Changes in the institutional framework for investment funds
The draft law introduces specialisation into the institutional structure of investment funds by providing for standardisation and licensing of administrative services
The Council of Ministers approved today the bill, entitled "The Law of 2023 on the Establishment and Operation of the Management Companies of Collective Investment Organizations", which aims to regulate the operation of the Cypriot Management Companies of Collective Investment Organizations (KEDOSE).
After the meeting, Government Spokesman Mr. Konstantinos Letymiotis told reporters that the bill adds specialization to the institutional framework for investment funds, with the standardization and licensing of administrative services, which are found in the most advanced markets for investment funds.
"This framework provides further security to investors, while at the same time making the market for investment funds more attractive to Investment Managers (Fund Managers), who will be able to focus on the more specialized issues of fund management and risk assessment", he emphasized.
Source: stockwatch.com.cy
Photo: stockwatch.com.cy
15 November 2023
