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Funds and asset management in North Macedonia is governed by a framework designed to regulate investment funds, asset managers, and the collective investment sector. The primary goal of the legislation is to protect investors, encourage transparency, and ensure the stability of the financial markets. This legal field addresses the creation, operation, and oversight of investment funds, along with the activities and obligations of asset management companies. Both institutional investors and private individuals turn to various funds and asset management structures to achieve their financial objectives, making legal guidance essential in navigating regulation and compliance.
People consider consulting a lawyer in funds and asset management for several important reasons:
The legal rules for funds and asset management in North Macedonia are mostly found in the Law on Investment Funds, as well as regulations issued by the Securities and Exchange Commission of North Macedonia (SEC). Core aspects include:
Both local and foreign individuals and companies must adhere to the applicable laws, or face sanctions, penalties, or revocation of licenses or registration.
The most common types are open-end investment funds, which allow investors to buy or redeem units at any time, and closed-end investment funds, which have a fixed number of units and trade on a secondary market. Professional and specialized funds also exist in certain cases.
Yes, both investment funds and asset management companies must obtain a license from the Securities and Exchange Commission of North Macedonia before commencing operations.
Investor protection is mandated through clear rules on disclosure, asset segregation, risk management, and transparency. The SEC actively supervises the sector to prevent mismanagement and fraud.
Foreign funds can operate or market their units to Macedonian investors if they comply with local registration and regulatory requirements set by the SEC.
Investment funds must publish and update a prospectus with all relevant details, provide periodic reports, and ensure ongoing transparency regarding investment strategy, risk, and fees.
Funds, asset managers, and investors are subject to specific tax rules regarding income, capital gains, and dividends. Tax treatment varies and often requires specialized advice.
Yes, individuals can invest in foreign funds, but should consider the regulatory and tax implications, including compliance with Macedonian foreign investment rules and SEC guidelines.
The SEC has the authority to issue regulations, grant or revoke licenses, supervise compliance, investigate suspected violations, and impose fines or other measures for breaches.
Disputes are usually addressed through mediation, arbitration, or court proceedings, depending on the fund's governing documents and the specifics of the case.
Penalties may include fines, suspension, or revocation of licenses, and, in severe cases, criminal liability. Investors may also seek compensation for losses arising from unlawful conduct.
If you are seeking more detailed information or official guidance, consider the following resources:
If you believe you need legal assistance with funds and asset management in North Macedonia, here is how you can proceed:
Taking early and informed legal advice will help protect your interests, ensure compliance, and provide greater confidence in your investment or business activities in North Macedonia's funds and asset management sector.
