Regulatory Alerts2025-11-17
FSMA Message to Investors: Certain Funds with Minimum Investment of €100,000 Are Not Subject to FSMA Supervision
The Belgian Financial Services and Markets Authority (FSMA) warns investors that alternative investment funds managed by sub-threshold managers are unregulated entities exempt from FSMA supervision and prudential rules. These non-public funds, which typically require a minimum investment of €100,000, are not subject to requirements regarding liquidity, risk management, or advertising approval, thereby exposing investors to potentially high risks and costs. Investors are advised to consult FSMA-published lists to verify whether a manager is authorized or merely registered as an unregulated sub-threshold entity before investing.
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