In a communique issued on 19 September 2024, the Financial Services Commission (FSC) confirms the amendment made to section 107 of the Securities Act 2005 following the enactment of the Finance (Miscellaneous Provisions) Act 2024 on 26 July 2024, whereby the approval of the FSC is now required for the appointment and/or change of an auditor for closed-end funds.  Previously this approval was required only for Collective Investment Schemes and CIS Managers.

To access the full communique issued by the FSC, please click here