Legal and Regulatory Committee

Terms of reference

Monitor and share all legal and regulatory developments impacting the local and the European fund industry as well as the fund industry in established EU investment fund centres.  In particular the Committee is expected to:

•    Monitor developments at EU level and at main Investment Funds centers, by analysing the papers and guidelines of ESMA as well as any relevant bibliography, including publications by major law firms, industry associations, papers supporting EU legislative initiatives and relevant EU jurisprudence. At a second step, circulating the necessary information in an industry friendly manner and informing the members of CIFA on the practical implications of relevant developments.
•    Review laws & regulations and recommend to CIFA’s Board proposals and amendments to be submitted to the regulator; in particular, analysis and submission of comments of any upcoming legislation both in terms of legal analysis and in terms of business impact of the intended regulation.
•    Circulate memos treating special issues relating to the investment funds industry, which can be motivated either by the importance of an issue for the local industry or by its business impact internationally.
•    Prepare guides and other industry papers explaining the applicable legal framework by also including comparative examples from other established investment fund centres.
•    Analyse the interplay of UCITS & AIFS legislation with other related pieces of legislation, e.g. MiFID, Companies and Partnerships Law and AML legislation.

The above list is non-exhaustive and other related issues may also be analysed and dealt with by the Committee as appropriate.

Chairman: Angelos Gregoriades, [email protected]