Regulatory Alerts2023-01-01
Regulation No. 2022-03 - Updating Transparency Rules for Investors in Common Investment Funds
The Vice Director of the Central Bank of the Republic of San Marino issued Regulation No. 2022-03 to implement Article 17 of Delegated Decree No. 8/2022 regarding transparency obligations for investors in common investment funds. The regulation mandates that funds utilizing Securities Financing Transactions (SFT) or total return swaps must disclose specific information in their prospectuses and financial statements in accordance with EU Regulation 2015/2365. These updated transparency and reporting requirements entered into force on January 1, 2023, with existing authorized funds required to adapt their documentation by March 31, 2023.
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