The Montenegro Capital Market Authority announced that the Parliament of Montenegro adopted the Law on Alternative Investment Funds on 28 February 2025, creating a dedicated regulatory framework for alternative investment funds (AIFs) and further aligning national rules with European standards. The Authority noted that the prior Investment Funds Law largely transposed Directive 2009/65/EC for UCITS, while AIFs that are not UCITS were not adequately covered. The new law regulates this segment through a separate act in line with Directive 2011/61/EU (AIFMD), setting conditions for the establishment and management of AIFs, defining requirements and responsibilities for AIF managers, and providing more specific supervisory mechanisms intended to strengthen investor protection.
Montenegro Capital Market Authority 2025-03-05
Montenegro Capital Market Authority reports Parliament’s adoption of an Alternative Investment Funds Law aligned with the EU AIFMD framework
The Montenegro Capital Market Authority announced the adoption of the Law on Alternative Investment Funds, establishing a regulatory framework for AIFs in line with Directive 2011/61/EU. This law addresses gaps in the previous Investment Funds Law by setting conditions for AIF establishment and management, defining AIF manager responsibilities, and enhancing supervisory mechanisms to bolster investor protection.