- The Ethiopian Capital Market Authority (ECMA) has introduced a new draft directive
- The new guideline focuses on improving transparency and regulatory standards for Collective Investment Schemes (CIS), including Money Market Funds, Mutual Funds, and Real Estate Investment Funds.
- Under the directive, investment schemes must be registered as joint stock companies, private limited companies, limited partnerships, or investment companies recognized by ECMA
- A key feature of the policy is its emphasis on comprehensive information disclosure; Public funds offering units to investors are required to prepare a general promotional document approved by ECMA, which must provide clear, accurate details on the fund’s investment policy, capital structure, issued securities, dividend distribution policies, and methods for determining distributable profits.
Regulations - Financial
ECMA issues new directive to enhance transparency in Pooled Investment Funds
