At its 71st management board meeting, the Croatian Financial Services Supervisory Agency adopted a broad package of rule changes for investment funds and related supervision. The measures revise key UCITS and alternative investment fund requirements on net asset value and unit pricing, depositary operations, reporting by management companies and funds, investor compensation and covert supervision, and include a decision to comply with ESMA guidelines on money market fund stress test scenarios. The agency also issued a series of firm specific decisions. It authorized Bitblock to provide crypto asset exchange against funds and IN KAPITAL to provide crypto to crypto exchange, approved Martes Investments for specified investment and ancillary services without holding client money or financial instruments, allowed Feelsgood Capital Partners to establish and manage a closed ended private equity alternative investment fund with a private offering, and upgraded N3 Capital Partners and Mathematica Capital Partners from small to medium alternative investment fund managers. Separately, it ordered Mathematica to improve its anti money laundering and counter terrorist financing framework within 120 days, approved Pivac Holding to publish a takeover bid for Kraš, allowed indirect qualifying holdings by UniCredit Bank Austria AG and UniCredit S.p.A. in BKS leasing Croatia, lifted the earlier ban on dividend payments at Adriatic Osiguranje, and closed a supervisory case over the Croatian branch of Vereinigte Hagelversicherung after remedial action. Bitblock and IN KAPITAL must register their newly authorized activities with the competent commercial court within 30 days and notify the agency once registration is completed. The planned indirect acquisition in BKS leasing Croatia must be completed within six months of the decision becoming final. Mathematica must submit evidence of remediation and a management report within seven days after the 120 day deadline expires.

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