The Cyprus Securities and Exchange Commission (CySEC) has announced proposed amendments to the fees payable by entities operating in the collective investment management sector, launching a public consultation on the planned changes.

In a newly published consultation paper, the regulator outlined proposals for revised charges affecting management companies and investment funds, with fees varying according to the type, category and size of the supervised entities.

According to the proposal, the new fees under consultation could reach up to €45,000.

The commission explained that the amendments would introduce changes to the methodology used to calculate annual fees payable by entities operating within the collective investments sector.

The proposals also include amendments relating to authorisation application fees, as well as charges connected to material changes in supervised entities, depending on their category.

In addition, the consultation paper introduces proposals concerning new types of information disclosures that supervised entities would be required to submit.

At the same time, the regulator said it intends to remove notification obligations that are no longer applicable, as part of a broader effort to streamline the framework.

The commission stated that the revision forms part of a comprehensive review of all CySEC fees and charges.

The objective, according to the regulator, is to ensure that fees are more closely aligned with the nature, scale and complexity of the activities carried out by supervised entities.

The proposals are also intended to reduce the regulator’s dependence on public resources while strengthening its financial autonomy.