The Montenegro Capital Market Authority has published two draft sets of implementing rules for open-ended investment funds with a public offering and opened them for public consultation. The drafts address how losses may be compensated and how management can be transferred in circumstances requiring regulatory intervention. The consultation covers draft rules on compensating damage to investors in an open-ended investment fund with a public offering or to the fund itself, and draft rules on the forced transfer of management of open-ended investment funds with a public offering. Both drafts are prepared under the Law on Open-ended Investment Funds with a Public Offering and are intended to further define investor protection mechanisms and procedures for supervisory intervention. Comments are invited within 14 days of publication, after which the authority will consider submissions and settle the final text of the rules.

Original source View in tracker