2024-02-19 18:47:49
The Central Bank initiates changes in the “Investment Funds” Law and a number of related laws, the main purpose of which is to introduce regulatory mechanisms commensurate with the possible risks arising along with the development of the sector. The legislative changes also introduce provisions regulating exchange-traded funds, the absence of which previously hindered the creation and development of such funds.
The key provisions of the changes are:
it will be necessary to obtain the permission of the Central Bank for the management of non-public funds;
all the provisions that will also apply to non-public funds will be clarified, including the procedure for the creation of the fund and the registration of the rules, the content of the fund charter (rules), the provisions of the fund liquidation procedure;
The central bank will be empowered to establish performance requirements for non-public funds and their managers through the adoption of normative legal acts.