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The President of the Republic Mr.Nicos Christodoulides chaired a meeting of the Council of Ministers at the Presidential Palace today: "The Cabinet of Ministers today approved the bill entitled "The Establishment and Operation of Management Companies of Collective Investment Undertakings Law of 2023" which aims to regulate the operation of the Cyprus Management Companies of Collective Investment Undertakings (CECIOs).
The Bill adds specificity to the institutional framework for investment funds by standardising and licensing the administrative services found in the most advanced markets for investment funds.
This framework provides further certainty for investors, while also making the market for investment funds more attractive to Fund Managers, who will be able to focus on the more specialised aspects of fund management and risk assessment."
(PM/AF/GC)
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