The Senate passed the governmental Bill on Investment Companies and funds at its last session on 3 July. The Bill partially transposes the EU documents, and further intentions of the Ministry of Finance on Investment Companies regulation policy. The Bill stipulates conditions under which the investment funds may be run. The Bill regulates the internal as well as external supervision. Furthermore, the Bill introduces the “European approach” of a difference between investment funds management (risk management, assets management), and investment funds administration. The Bill also brings new provisions of investment funds that should allow to issue joint stocks that should be tradable.
The Bill is heading to the president. After his signature, the Bill should be promulgated.
For further information regarding the Senate’s discussion, click here.