Regulatory Alerts2026-07-27
Added · Updated
Law on the Activity of Collective Investment Schemes and Other Collective Investment Undertakings
This Law regulates the establishment, operation, and supervision of collective investment schemes (CIS), including contractual funds and investment companies, as well as alternative investment fund managers. It mandates that CISs obtain licenses or permits from the Financial Supervision Commission (FSC) to operate, sets minimum net asset thresholds of 300,000 euros for investment companies and 250,000 euros for contractual funds, and requires immediate disclosure and corrective measures if these thresholds are breached. The legislation prohibits unauthorized entities from using terms such as "investment company" or "contractual fund" and establishes strict eligibility criteria for board members, including disqualifications for criminal convictions or insolvency involvement.