New Communication with FAQs about UCITS

The document FSMA_2023_25 provides a new set of FAQs aimed at assisting UCITS and their management companies in implementing relevant legal provisions. This includes the Law of 3 August 2012 on collective investment entities fulfilling conditions of Directive 2009/65/EC and investment undertakings in receivables, along with its implementing provisions.
The scope of these Q&A encompasses both Belgian and foreign UCITS. Belgian public AIFs with a variable number of units can refer to these Q&A when applying identical legal provisions applicable to Belgian UCITS.
The structure of the document is divided into two parts:
Part I focuses on Belgian UCITS and covers topics such as KID, prospectus updates, investment policies, classes of shares, and the creation of UCITS, compartments, or share classes. Specific inquiries include the possibility of using UCITS-KIID instead of KID, notification requirements for KIDs, and conditions for granting exemptions to risk distribution rules for public securities.
Part II addresses foreign UCITS and raises questions about the offering of shares from unregistered foreign ETFs in Belgium. Additionally, it explores the applicability of nominees to all UCITS.
The document provides detailed information on topics such as the documentation required for prospectus updates, conditions for exemptions to risk distribution rules, and reporting obligations, including periodic reports and statistical reports on investor composition. The FAQs offer comprehensive guidance on legal and procedural aspects, aiding UCITS and their management companies in navigating regulatory requirements.