The Cyprus Securities and Exchange Commission ("CySEC") has issued instructions to Alternative Investment Fund Managers ("AIFMs") that it regulates regarding fulfilment of their reporting obligations under the Alternative Investment Fund Managers Law of 2013 to 2015. Article 31 of the Law, which reproduces the text of article 24 of the EU AIFM Directive, obliges AIFMs to provide detailed information to CySEC on the Alternative Investment Funds they manage or market in the EU. Article 4(3)(d) of the Law extends this reporting obligation to sub-threshold funds, as defined in article 4(2) of the Law.

AIFMs are required to provide the information specified in article 110 of EU Regulation 231/2013 using the pro-forma reporting template set out in Annex IV of the Regulation. The frequency of reporting is determined by the value of assets under management, as prescribed in article 110. Returns must be submitted to CySEC no later than one month after the reporting reference date. An additional 15 days is allowed if the AIF is a fund of funds. 

The first reporting reference date is 31 December 2015. In order to allow regulated entities sufficient time to complete their first returns, the reporting deadline has been extended to 11 March 2016.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.