The Cabinet has greenlit a pivotal legislative draft titled ‘The Establishment and Operation of Collective Investment Organisation Management Companies Law of 2023’, which aims to regulate the operations of Fund Managers and Undertakings of Collective Investments.

Following the Cabinet meeting, government spokesperson Konstantinos Letymbiotis highlighted that this draft law introduces specialisation within the institutional framework for investment funds.

He explained that the law achieves this by standardising and licensing administrative services in line with the most advanced markets for investment funds.

“This framework provides additional security for investors while making the market for investment funds more attractive for Fund Managers,” he said.

“They will be able to focus on more specialised areas of capital management and risk assessment,” he added.