[Bertram Anders]

5. Finally, the level cap on the server is being temporarily reduced to 15 for a short time to reset the number of high-level PCs, and then it will go back up to level 20, and those PCs that were affected by it can begin working to eventually regain their previous level (and beyond - if not already a level 20). ICly this is due to a magical enervation curse that is sweeping over Thay affecting high-level characters. There will be several more events in addition to any already held, related to this.
If you have a PC who is lowered to level 15, the amount of XP they currently have will still be saved in the new XP system. So that means you have a lot you can do as far as working at the enchantment forges (which have also just had their prices reduced), or you can preserve it and focus on RPing with others as the best way to get notoriety required to eventually get back to the level you were at.

Yes, not until 15.