Update BRP – Country Manual Asset Management
Monaco
BRP has published its latest Country Manuals Asset Management for Monaco
| SOURCE OF CHANGES | ANSWERS |
|---|---|
| Law/Regulation | Yes |
| New Position of the Authorities | Yes |
| Evolution of Expert’s interpretation | Yes |
Definitions & Concepts, Regulatory Overview and Behaviour Template
The Country Manual has been reviewed to ensure that the content of all the documents remains accurate and up to date.
Material changes
The changes/modifications are as follows:
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- Generic marketing activities such as presenting the Company in general terms and providing macroeconomic analysis and financial research (without specific information on strategies, investment services and/or financial products) as well as the marketing of products and services and mandates are now permitted if they are conducted either (indirectly) via/with locally licensed entities or (directly) to Institutional Investors or locally licensed entities in/into Monaco (at target/remote) as well as to existing Professional Clients “by nature” and Retail Clients on a pure cross-border basis (irrespective of the existence of an ongoing advisory agreement).
- In addition, participation in presentations and conferences with institutional investors and locally licensed entities is now permitted on an occasional basis, subject to notification to and approval by the CCAF onshore in Months (at target), as well as when conducted via/with the locally licensed entity.
Non-material changes
Some comments/conditions have been reworded and further non-material changes have been made throughout the documents.
For more information, please contact us: info@brpsa.com
Geneva, September 6th, 2024