2013-07-01
By the law for professional investors a legal environment complying with global standards will be created in Lithuania
Lithuania’s capital market should face a new incentive to finance small and medium sized businesses. The Republic of Lithuania Law on Collective Investment Undertakings Intended for Informed Investors that comes into force as from 1 July and reinforces an ordinary in the West legal environment provides possibilities for that.
“From now on the operating conditions of funds for professional investors in Lithuania will basically comply with the conditions applied by Luxembourg, which is one of global investment fund centres,‟ says Vilius Šapoka, Director of the Financial Services and Markets Supervision Department of the Bank of Lithuania.
The Law expands the choice of a legal form for investment undertakings managing funds – from now on they will not only be able to function as joint stock or close joint stock companies but as partnerships as well. Funds will also be provided with a wider choice of possibilities as to what assets to invest in and how to diversify investment risk.
The Bank of Lithuania, as the supervisory institution, was among the institutions that prepared this Law.