Regulatory Alerts2009-09-09 | CBFA_2009_28Added · Updated
Communication CBFA_2009_28 / Annual Individual Accounts of Credit Institutions, Investment Firms and UCITS Management Companies
Credit institutions, investment firms, and UCITS management companies must apply new accounting rules from January 1, 2010, for fiscal years starting on or after that date, primarily governed by the Royal Decree of September 23, 1992. Investment firms and UCITS management companies must submit their transition plans to the CBFA via the eCorporate platform by October 31, 2009, and report any significant delays. The updated regulations include simplified spot transaction accounting, updated merger and acquisition rules, and new annexes for third-party securities, with certain exemptions from specific annexes for investment firms and UCITS managers.
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