In order to achieve this, in compliance with the legal requirements, after drafting the regulation on the recognition of collective investment undertakings licensed in a member state of the European bloc, the Financial Supervision Authority has recently issued for public consultation the draft regulation “On registration of the agent for sale of collective investment undertakings with a public offering licensed in an EU Member State. ”

This draft regulation defines the requirements for the registration of legal entities set out in the law “On collective investment undertakings”, which seek to exercise the activity of marketing and sale of quotas of collective investment undertakings with public offer licensed in an EU member state and recognized by the Authority.

According to Article 101 of the law, the role of the related agent to market and sell funds of a company licensed in an EU country can be performed by insurance companies, brokerage companies, banks or other legal entities (including management companies of the ICS) who have the necessary license from the Authority in compliance with the legislation in force for the capital markets, who have entered into a contract with the management company or the branch of the management company licensed in an EU country.

The draft regulation further complements the necessary bylaws that enable the marketing and sale in Albania of investment funds licensed in an EU member state. In this way, investors in Albania will have more alternatives as well as access to invest directly in EU-licensed collective investment undertakings.

At issue were the opportunities for the Albanian investor to access the investment funds of the company Eurizon Capital through the bank Intesa Sanpaolo Albania.

In his remarks, the General Executive Director of Albanian Financial Supervisory Authority said that the new law “On Collective Investment Enterprises” creates for the first time the possibility of marketing and direct distribution of European funds, licensed in the EU, to investors in Albania.

Mete stressed that the presence of internationally known names in the market of collective investment enterprises in Albania increases market standards and creates more space and alternatives for investors.
The General Executive Director of Intesa Sanpaolo Bank Albania, Alessandro D’Oria, praised the role of the Authority in terms of completing the necessary legal and regulatory framework, as well as the implementation of the compliance process in line with the requirements of the new law. D’Oria said that the bank in the role of distributor aims to give Albanian customers the opportunity to invest in investment funds of Eurizon Capital S.A.

This new investment service will provide a new opportunity to directly access the international asset management market.

Following the adoption of the new law “On collective investment undertakings” in 2020 and the completion of the entire regulatory framework by the Authority, there has been a growing interest in new investment funds. During 2021, AFSA licensed two open equity investment funds with public offering, as well as registered two alternative investment funds.
/k.s/a.a/r.e/sm/