Regulatory Alerts2023-11-09
Royal Decree 816/2023 modifying the Regulation developing the Law on Collective Investment Institutions
The Spanish Ministry of Economic Affairs and Digital Transformation issued Royal Decree 816/2023 to amend the Regulation developing the Law on Collective Investment Institutions, aligning national rules with EU directives and recent domestic legislation. The decree eliminates the mandatory quarterly reporting requirement for investors, establishes electronic communication as the default method, and integrates sustainability risk management into the organizational and operational processes of management companies. Additionally, it updates provisions regarding investor key information documents, internal conduct rules, and procedures for replacing managers or depositaries in insolvency scenarios.
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