The Montenegro Capital Market Authority has adopted a package of nine draft by-laws for alternative investment funds and open-ended investment funds with public offering. The drafts set out more detailed rules for the operation of fund management companies and investment funds, covering delegation of functions, digital operational resilience, disclosure and publication of information through the European Single Access Point, organizational requirements, European long-term investment funds, amendments to financial reporting rules for alternative investment funds, and the establishment and operation of money market funds. The measures were adopted under Montenegro's laws on alternative investment funds and on open-ended investment funds with public offering. They are intended to specify key operating requirements for fund managers and funds, including governance and outsourcing arrangements, standards for submitting and publishing information for ESAP, and conditions for specialized fund types, while further developing the regulatory framework for financial reporting and long-term investment products in line with national legislation and relevant European Union rules and standards. A public consultation is open for 14 days from publication. After considering comments, proposals and suggestions received during the consultation, the authority will finalize the texts of the rules.

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