Regulatory Alerts2011-07-26
Decree of Národná banka Slovenska on the Own Funds of Management Companies
Národná banka Slovenska issued Decree No 7/2011 to define the composition and calculation of own funds for management companies under the Act on collective investment. The regulation specifies that original own funds consist of paid-up share capital, reserves, and retained earnings, while additional and supplementary own funds include specific subordinated debts and other qualifying funds subject to strict maturity and subordination conditions. It further mandates the deduction of interests in other financial institutions and insurance undertakings to ensure capital adequacy, thereby transposing EU Directive 2009/65/EC into Slovak law.
Share