Regulatory Alerts2024-01-01
Circular No. 06/2024: Clarification of Public Offers and CIS Regulations 2023
This circular mandates compliance with the Code of Corporate Governance Practices for Issuers of Securities to the Public (2015), clarifying that POLD Regulations 2023 provisions take precedence in cases of conflict. New governance standards define independent directors with a six-year maximum tenure—applying prospectively to new appointments—and clarify the necessary operational independence of fund managers from trustees and custodians. Entities previously registered under former regulations must complete their transition to these updated frameworks within twelve months of the effective date.
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