Collective investment schemes

On 11 November 2024, the International Organization of Securities Commissions (IOSCO) issued a consultation report on revised recommendations for liquidity risk management for collective investment schemes (CIS), especially for open-ended funds. IOSCO is also consulting on complementary guidance for the effective implementation of the recommendations for liquidity risk management.

The recommendations

There are two methods which allow the marketing of alternative investment funds (AIFs) in the EU by alternative investment fund managers (AIFMs). The first method is a marketing “passport” which has been introduced by the Alternative Investment Fund Managers Directive (AIFMD) to allow AIFs to be marketed to professional