Fund Distribution Alert 2022-04
EU Directive 2019/1160 Transposition Update - Portugal
EU Directive 2019/1160 Transposition Update - Portugal
The EU Directive 2019/1160 has entered into force in Portugal with the Law n.º 109-F/2021 of 9 December 2021.
Following this, a physical presence for the fulfilment of facilities services will no longer be required for UCITS in Portugal. The language for the fulfilment of such facilities services must be in Portuguese, English or in any other language approved by the CMVM, even if via electronic means.
The CMVM continues to require the Management Company to produce the document “Particular conditions for marketing the UCITS in Portugal”, including, if applicable, information relating to share/unit classes.
The law n.º 109-F/2021 is currently only available in Portuguese and can be accessed in full here.
Please feel free to contact us should you require any additional information.
Contacts
Said Fihri
Partner
+352 22 51 51 7892
said.fihri@kpmg.lu
Stephanie Zedda
Director
+352 22 51 51 7271
stephanie.zedda@kpmg.lu
