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Clifford Chance

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New regulatory framework for collective investment undertakings in Spain

14 October 2014

On 18 July 2014, the Official Gazette published the Draft Bill which will transpose the Alternative Investment Fund Managers Directive (AIFMD) in Spain.

The transposition of the AIFMD in Spain through the Draft Bill will entail the amendment of the Spanish Private Equity Act, which regulates closed-ended funds, and the amendment of the Spanish Collective Investment Undertakings Act, which regulates open-ended funds (Funds Act).

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