Regulatory Alerts2011-10-20
Ordinance No. 44 of 20.10.2011 on Requirements for the Activity of Collective Investment Schemes, Management Companies, National Investment Funds, Alternative Investment Funds and Managers of Alternative Investment Funds
The Commission for Financial Supervision issued Ordinance No. 44 to regulate the operational requirements for collective investment schemes, management companies, national investment funds, and alternative investment funds in Bulgaria. The ordinance mandates strict liquidity management protocols, defines eligible assets including specific criteria for money market instruments and derivatives, and establishes detailed contractual obligations between investment companies, managers, and depositaries. It further sets forth rules for asset valuation, conflict of interest prevention, and investor protection measures to ensure the stability and transparency of the investment sector.
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