On the 2nd of February 2023, the Financial Services Commission (FSC) issued a communiqué regarding new procedures in respect of applications for Collective Investment Schemes (CIS) and Closed-End Funds (CEF) (collectively ‘Funds’). Henceforth, management companies will need to provide confirmations and undertakings along with the application for Funds licences in a prescribed form.
Moreover, the FSC will conduct an on-site inspection within 6 months of the issuance of authorization to ensure high-quality assurance procedures are being adopted.
Click on the link to read more about the steps for the application HERE.
