Regulatory Alerts2024-03-19 | C623Suspension of redemption of UCITS and AIF units on 29 March and 1 April 2024
The Cyprus Securities and Exchange Commission mandates the suspension of UCITS and AIF unit redemptions on 29 March and 1 April 2024 for funds with daily net asset value calculations. This directive is issued due to public holidays affecting international stock markets and the closure of the TARGET2 payment settlement system on those dates. The regulator cites its statutory powers under the UCI and AIF Laws to protect unit-holder interests and ensure proper market functioning during these specific periods.
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