Regulatory Alerts2022-01-01
Regulation on Compensation to Investors and/or the Alternative Investment Fund (Official Gazette No. 16/19 and 150/22 – Unofficial Consolidated Text)
The Croatian Financial Services Supervisory Agency (HANFA) issued this Regulation to establish a comprehensive compensation framework for Alternative Investment Fund Managers (UAIFs) regarding incorrect share price calculations, investment limit breaches, and other operational omissions. It mandates that UAIFs prepare and submit detailed compensation plans within 60 days, notify affected investors within 10 days, and bear all associated costs while applying specific monetary thresholds to exempt minor claims. The framework further streamlines procedures for cross-border funds, introduces simplified submission rules based on compensation amounts, and requires auditors to verify the accuracy of calculations and payments within annual AIF reports.