Si Circular 2024 Requires Streamlined Investment Fund Marketing

What is Si Circular 2024?

Si Circular 2024 is a regulatory framework issued by the Securities and Exchange Commission of Spain (CNMV) that aims to enhance the transparency and efficiency of marketing investment funds in Spain.

The circular introduces several new requirements for fund managers, including the need to provide investors with clear and concise information about the fund's investment objectives, risks, and costs.

Key Provisions of Si Circular 2024

Some key provisions of Si Circular 2024 include:

• Fund managers must provide investors with a simplified prospectus that is no more than three pages long.
• The prospectus must include information about the fund's investment objectives, risks, and costs in a clear and concise manner.
• Fund managers must also provide investors with a key investor information document (KIID) that summarizes the key features of the fund in a non-technical language.
• Fund managers must obtain prior authorization from the CNMV before marketing a fund in Spain.
• Fund managers must comply with the CNMV's advertising and marketing rules.

Benefits of Si Circular 2024

Si Circular 2024 is expected to benefit investors by providing them with more transparent and comprehensive information about investment funds.

The circular is also expected to benefit fund managers by streamlining the marketing process and reducing regulatory uncertainty.

Conclusion

Si Circular 2024 is a significant regulatory development that will have a major impact on the marketing of investment funds in Spain.

Fund managers should carefully review the circular and ensure that they are compliant with its requirements.