Regulatory Alerts2021-09-01
Added · Updated
Communiqué on Principles of Investment Funds
The Capital Markets Board of Turkey issued Communiqué III-52.1 to establish the foundational principles, operational rules, and public disclosure requirements for investment funds. The regulation mandates that funds be structured as umbrella funds with segregated assets, defines specific fund categories such as debt, share, and money market funds, and outlines the fiduciary responsibilities of founders and portfolio custodians. It further governs the approval process for fund establishment and unit issuance, requiring Board authorization for prospectuses and strict adherence to asset segregation and investor protection standards.
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