Data relating to collective investment undertakings

Resource type: Legal Update: archive

Status: Published on 05-Apr-2001

Jurisdiction: Italy

The Commission for Corporations and Stock Exchange (CONSOB) has recently ruled that the obligation to notify individual participants in open-ended collective investment undertakings of periodic data updates and changes in the information contained in prospectuses (article 24, paragraph 4, of CONSOB Regulation no.11971/1999 on issuers) may be fulfilled by inserting the relevant information in other documents sent to individual participants, such as newsletters or statements of operations. The use of alternative means of communication does not conflict with the Regulation on issuers, provided that:

  • The notifications are issued within the time limits set out in the Regulation.
  • The notification expenses are not charged to the collective investment undertakings.
  • Asset management companies and SICAVs keep records of the mailing lists of the investors notified in this way, together with an indication of the document used (for example, part II of prospectuses, newsletters, statements of operations and so on).

Source: CONSOB Communication no. DIN/1007549 of 1st February, 2001. Ughi E Nunziante

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  • Resource ID: 0-101-4336
  • Published: 05-Apr-2001
  • Products:  PLC Cross-border, PLC Cross-border Quarterly, PLC Lawdepartment Global
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