On June 13, 2023, European Fund and Asset Management Association (EFAMA) published the 21st edition of the Fact Book. The Fact Book is the ultimate source of data on the European investment fund industry. It offers a comprehensive analysis of the developments in 2022 and regulatory advancements across 28 European countries. Key developments of 2022…
The Corporate Sustainability Reporting Directive (CSRD), effective from January 5, 2023, enhances the rules governing the disclosure of social and environmental information by entities. The CSRD requires all large and listed entities (except listed micro-enterprises) to engage in corporate sustainability reporting. It requires entities to identify both their impacts on people and environment as well…
EU Level Legislation on ESG and Sustainable Financing The amended Benchmark Regulation (EU) 2019/2089 Entered into force in late 2019, the amended Benchmark Regulation established the EU Climate Transition Benchmarks, EU Paris-aligned Benchmarks and sustainability-associated disclosures for benchmarks. These amendments aim to ensure that the labels ‘EU Climate Transition Benchmark’ and ‘EU Paris-aligned Benchmark’ are…
What is ESG Investing? Environmental Social Governance It is subjective and highly debatable what elements comprise environmental, social or governance factors, yet the investment community has coined the term as they generally acknowledged a broad definition of ESG Investing as non-financial dimensions of a security’s valuation, performance, and risk profile. Today, ESG is featured much…
Possibility to remove current liquidator and possibility to appoint an additional liquidator in the procedure of creditor’s voluntary liquidation. Based on Section 277 of the Cyprus Companies Law, Cap.113, the creditors and the company at their respective meetings may nominate a person to be liquidator for the purpose of winding up the affairs and distributing…
A company may enter into the procedure of the voluntary liquidation by its creditors when it cannot pay its debts. This procedure’s objectives are the distribution of the insolvent company’s assets between its creditors and the company’s dissolution. The directors of the insolvent company shall prepare a statement of their position on the company’s affairs,…
Procedure of re-domiciliation of a Cyprus Company out of the Republic of Cyprus. Application for re-domiciliation abroad A Cyprus company registered under the provisions of the Companies Law, Cap. 113 may apply to a foreign country to be registered and continue its existence under that legal regime provided that the following has been obtained: (a)…
The conditions and circumstances under which the disclosure of information about the Investors / Unitholders of a Cyprus Alternative Investment Fund (AIF) is obligatory. The Cyprus Security and Exchange Commission (CySEC) is the regulatory authority responsible under the Law for the licensing and supervision of Investment Funds for both Undertakings for Collective Investment in Transferable…
The conditions and circumstances under which the disclosure of information about the Investors/Unit-holders of a Cyprus Alternative Investment Fund (AIF) is obligatory. The Cyprus Security and Exchange Commission (CySEC) is the regulatory authority responsible under the Law for the licensing and supervision of Investment Funds for both Undertakings for Collective Investment in Transferable Securities (UCITS)…
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