Home / CY AIF Law of 2018 / PART V SUPERVISION AND PENALTIES / Chapter 1: Supervision of AIFs / [110] Competences of the Securities and Exchange Commission.

110. Competences of the Securities and Exchange Commission.

(1) The Securities and Exchange Commission is designated as the competent authority to exercise the supervisory responsibilities provided for in this Law.

(2) The Securities and Exchange Commission shall be the competent authority for the supervision of the AIFs of the Republic and fall within the scope of application of this Law or of the Alternative Investment Fund Managers Law, as well as of the persons engaged in AIF activity.

(3) The Securities and Exchange Commission shall cooperate with other competent regulatory or supervisory authorities of the Republic or of other countries –

(a) during the assessment of an application to grant authorisation to an AIF and/or

(b) whenever it considers it necessary,

in order to determine the appropriateness of the AIF, of the members of its governing body, of the persons marketing its units, of its external manager, of its depositary or of any related persons with the aforementioned persons.

(4) The Securities and Exchange Commission shall exercise the supervision of an AIF in relation to the marketing of its units in the Republic and in relation to its compliance with its obligations which result from Part III and the directives of the Securities and Exchange Commission issued in accordance with section 99(7) and 100(7) and, in general, its compliance with the provisions of the applicable legislation.