Regulatory Alerts2014-11-07
Regulation of the Financial Markets Council on Venture Capital Investment Companies
The Tunisian Ministry of Economy and Finance, upon the proposal of the Financial Markets Council, approved a comprehensive regulation governing venture capital investment companies. The regulation mandates strict approval and declaration procedures for firms managing special resources on behalf of non-professional and professional investors, while establishing rigorous organizational, staffing, and internal control standards. It further requires independent compliance functions, standardized management agreements with investors, mandatory financial and statistical reporting, and transparent complaint handling mechanisms to safeguard investor assets and market integrity.
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