Home / CY AIF Law of 2018 / PART ΙΙ: PROVISIONS REGARDING THE ALTERNATIVE INVESTMENT FUNDS / Chapter 3: Common provisions regarding the organisation and operation of AIFs / [19] Remuneration policies.
Embedded Files
19. Remuneration policies.
(1) Without prejudice to the provisions of article 14 of the Alternative Investment Fund Managers Law, applicable to AIFMs which are internally managed AIFs, this article shall apply to internally managed AIFs, unless otherwise provided in this Law.
(2) Internally managed AIFs shall establish and apply remuneration policies which -
(a) are consistent with and promote sound and effective risk management∙
(b) do no encourage risk-taking which is inconsistent with the risk profile, its fund rules or its instruments of incorporation∙
(c) apply to those categories of staff, including senior management, risk takers, control functions and any employees receiving total remuneration that takes them into the same remuneration bracket as senior management and those risk takers, whose professional activities have a material impact on its risk profile.
(3) The Securities and Exchange Commission may, by means of a directive, specify any detail or technical matter regarding the application of this article.
Page updated
Report abuse