Regulatory Alerts2015-02-14
Royal Decree 83/2015 of 13 February amending Royal Decree 1082/2012 on Collective Investment Institutions
The Spanish Ministry of Economy and Competitiveness issued Royal Decree 83/2015 to transpose EU Directives 2011/61/EU and 2014/91/EU into Spanish law by amending the Regulation on Collective Investment Institutions. The decree introduces new authorization, conduct, and operational requirements for alternative investment fund managers, establishes a unified regulatory framework for depositaries, and permits the active marketing of free-investment collective investment institutions to qualified retail investors. Additionally, it updates prospectus rules, allows omnibus accounts, and adapts national regulations to align with European Securities and Markets Authority powers.
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