The Capital Markets Board (SPK) has made changes to its regulations regarding the portfolio and investment limitations of investment funds. With the update made to Article 4.3 of the Guide on Investment Funds, the Board has redefined the compliance calendar.
The previous calendar, which stipulated phased compliance on October 31, 2026, and November 30, 2026, and full and final compliance on December 31, 2026, has been changed. According to the new regulation, phased compliance provisions will not be applied; the deadline for full compliance with portfolio and investment limitations will be January 31, 2027.
In its statement, the SPK noted that recent developments in the markets were taken into account. The Board also announced that the clause in the second paragraph of Article 4.3 of the Guide, which defines exemptions regarding money and capital market instruments for public institutions and their subsidiaries, has been removed, provided that the provisions of the relevant communiqué remain reserved.
The regulation extends the compliance process for investment funds regarding their portfolio structures and investment limits by one month, while also eliminating the intermediate phased requirements.
The full statement from the SPK is as follows:
"An amendment has been made to Article (4.3) of the Guide on Investment Funds (Guide), which was accepted as the Principle Decision of our Board numbered i-SPK.52.4 (dated 20.06.2014 and numbered 19/614).
Clause (a) in the second paragraph of Article 4.3 of the Guide, which defines exemptions regarding money and capital market instruments for public institutions and their subsidiaries, has been removed, provided that the provisions of the same scope contained in the Communiqué on Principles Regarding Investment Funds numbered III-52.1 remain reserved.
Furthermore, taking into account recent developments in the markets, the compliance calendar in the eighth paragraph of Article 4.3 of the Guide, which regulates compliance with the portfolio and investment limitations in the first paragraph of Article 4.3 and provides for phased compliance on 31.10.2026 and 30.11.2026, and full and final compliance on 31.12.2026, has been updated.
Accordingly, without applying phased compliance provisions, the final deadline for full and final compliance with portfolio and investment limitations has been set as 31.01.2027."
News Source: 12punto
