• On 10 October 2019, Serbian Parliament adopted financial law package including open investment funds with public offering act and the alternative investment funds act.
• By their adoption, mutual fund regulation, in accordance with EU regs, is in two laws.
• Aim is to improve the capital market and attracting foreign and domestic investors.
• so alternative sources of financing available to micro, small, medium-sized enterprises.

New Laws

• Open investment funds with a public offering law governs organization, management of UCITS funds; establishment, operation, business of UCITS funds management firm.
• Also affairs and duties of a depositary, the competence of the Securities Commission, supervision of UCITS funds and companies to manage UCITS funds and depositories.
• Investment units are defined as transferable dematerialized financial instruments in accordance with capital market law, purchased in dinars and/or foreign currencies.
• Alternative investment funds law regulates all other funds and their management.
• It defines the establishment, operation and business of alternative investment fund management companies and establishment, organization and management of AIFs.
• Depositary affairs and duties, competence of the Securities and Exchange Commission.