The update directly addresses regulatory rules for open-ended investment funds with public offerings, including management company licensing, capital requirements, and fund operations—core Investment Services activities.
Low confidence — REQUIRES HUMAN REVIEW. While the regulations touch on fund structures and investor protections, there is no specific indication that the funds are focused on equities, fixed income, digital assets, or cash equivalents as primary investment vehicles, making a more specific child category difficult to justify.
Specialism
This update concerns open-ended investment fund regulations in Montenegro's capital markets, which falls outside the payments compliance taxonomy focused on payment service providers, payment systems, and payment-specific regulatory frameworks.
While the update mentions regulatory oversight and capital requirements, these apply to investment fund management companies rather than payment firms, making this content tangential to payments compliance at best.
2026-03-02 08:49:04·arahman@vixio.com
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TITLE: Montenegro's Capital Market Commission Launches Public Consultation on Open-Ended Investment Fund Regulations
BODY:
On February 27, 2026, the Capital Market Commission of Montenegro (Komisija za tržište kapitala Crne Gore) adopted six draft subordinate legal acts relating to open-ended investment funds with public offerings. The commission is now launching a public consultation to gather feedback from stakeholders on these regulatory proposals.
The draft rules cover: rules on central funds and investor funds; rules on liquidation and termination of open-ended investment funds with public offerings; rules on the content and maintenance of registers for management companies and open-ended investment funds with public offerings; amendments to rules on issuing operating licences and granting consent to management companies; rules on regulatory capital requirements for management companies; and rules on the content of notifications regarding trading commencement in member states and UCITS fund confirmations.
These draft regulations implement provisions of the Law on Open-Ended Investment Funds with Public Offerings (published in the Official Gazette of Montenegro, nos. 23/25, 117/25 and 14/26). The commission states that the regulations aim to enhance the regulatory framework and ensure full implementation of legislative solutions in the open-ended investment fund sector.
Interested parties are invited to submit comments, proposals and suggestions to the Capital Market Commission within 14 days of this notice via email to info@scmn.me. Following its review of the feedback received, the commission will finalise the texts of the subordinate legal acts.
**Reference:**
Capital Market Commission of Montenegro: https://www.scmn.me