Regulating investment funds: Serbia vs. EU

Abstract

The Law on Investment Funds ('Official Gazette of the RS', no. 46/06, 51/09, and 31/11) regulates the field of investment funds operating in Serbia. Bearing in mind that Serbia has been in the process of joining the EU, and that it faces the pending obligation of gradual acquisition of the EU solutions and harmonization of local regulations with the relevant EU directives, in this paper we analyze the room for amendments to the concerned Law, with a view to further harmonization of domestic regulations related to investment funds, and facilitation of the local fund industry's development.

Keywords

• UCITS
• AIFM
• ESMA
• ESRB
• investment fund
• open-end fund
• closed-end fund
• private fund
• investment units
• capital requirements
• open- end fund's net asset value
• audit of the fund's financial statements
• funds' borrowing
• mergers and acquisitions of funds