Regulatory Alerts2017-01-01
Regulation on UCITS Fund Shares - Unofficial Consolidated Text (NN, Nos. 3/17 and 41/17)
The Croatian Financial Services Supervisory Agency issued this Regulation to establish detailed operational rules for UCITS fund shares, covering initial offers, issuance and redemption procedures, suspension conditions, in specie payments, share exchanges, pricing mechanisms, ETF labeling requirements, and register maintenance. It mandates management companies to document compliance, maintain accurate electronic registers, ensure asset segregation for umbrella funds and sub-funds, and promptly notify the Agency and public of suspension reasons or calculation impediments. Furthermore, it standardizes share class rights, defines strict criteria for UCITS ETF designation and secondary market redemptions, and extends existing statutory deadlines to protect investors during operational disruptions.