The Cyprus Securities and Exchange Commission (CySEC) has proposed amendments to the fees payable by entities operating under the Collective Investment Management Sector in a consultation paper published on Wednesday, with the proposed new fees under consultation varying depending on the type, category, and size of the Management Companies and Funds, reaching up to €45,000.

According to CySEC, the proposed amendments introduce changes to the methodology for calculating the annual fees payable by entities operating in the collective investments sector. They also include amendments to the fees payable in relation to applications for authorisation, as well as material changes thereto, depending on the category of supervised entities. In this context, proposals are introduced for new types of information that must be disclosed, while notification obligations that are no longer applicable are removed.

The revision of these fees forms part of a comprehensive review of all CySEC fees and charges, aiming at better aligning them with the nature, scale, and complexity of the activities of supervised entities, as well as reducing CySEC’s reliance on public resources and strengthening its financial autonomy, the Commission concludes.

Source: CNA(ΚΥΠΕ)