Read the CySEC Circular C773
Memo #23-2026
CySEC Circular No: C773
Date: 27/04/2026
Subject: UCITS’s and AIFs’ Depositaries (‘CyDEPs’) role and 2026 supervisory activities
Purpose: To inform Regulated Entities appointed as UCITSs’ and AIFs’ Depositaries and the Cyprus Investment Fund Managers (‘CyIFMs’) regarding its supervisory intentions for the year 2026.
In Summary:
CySEC has issued the Circular C773 on 27/04/2026 to inform the Cyprus Investment Firms, Cyprus Credit Institutions and Other Institutions which have been appointed as UCITSs’ and AIFs’ Depositaries, and the Cyprus UCITS Management Companies and Self-Managed Cyprus UCITS (‘CyUCITS MCs’), Cyprus Alternative Investment Fund Managers and Self Managed AIFs, including Cyprus sub-threshold AIFMs and the Self-Managed AIFs (‘CyAIFMs’), regarding the fundamental role of the Depositary in the field of collective investment management, specifically in enhancing integrity, transparency, trust and stability in the collective investment market and to inform them of its supervisory intentions for the year 2026.
CySEC notes that Depositaries constitute a key pillar for the protection of investors and the safeguarding of the integrity of Investment Funds.
CySEC further informs that it has recently invited a number of CyDEPs to present their Depositary activities, including the procedures, mechanisms and controls applied, in accordance with the applicable legislative framework. The content of the relevant letter addressed to CyDEPs is included in the Annex of Circular C773.
Furthermore, CySEC informs that is planning to initiate targeted thematic reviews in 2026, on a sample of CyDEPs. Circular C773 refers to the issues to be addressed during the thematic work.
CySEC expects all CyDEPs to proactively assess their current arrangements and ensure that their framework is fully aligned with the applicable regulatory requirements. Where weaknesses or deficiencies are identified, they are expected to take prompt remedial action to ensure full compliance with their obligations.
Read the CySEC Circular C773
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