Asset Management – What to Expect in 2025?  

The CMVM published last week the Annual Circular on Asset Management, which highlights the key supervisory activities for 2025, framed within its Strategic Plan for 2025-2028, and also providing an overview of the supervisory actions carried out in 2024.

2025 marks the beginning of the CMVM’s strategic plan until 2028, with the motto “A capital market that creates value and well-being.” The regulator aims to ensure results-oriented supervision, the promotion of stability and regulatory proportionality, strengthen investor confidence, mobilize for a more developed capital market, and enhance the capabilities and efficiency of the CMVM itself.

At the end of last year, the CMVM updated the questions and answers regarding the regulatory framework applicable to management companies and collective investment undertakings, published in light of the entry into force of the new Asset Management Regime and its respective regulations, also providing important guidance regarding the applicable regime.

In this context, new questions and answers were added regarding the venture capital AIFs regime, the liquidation of UCIs, MCs authorization, the disclosure of profitability measures, and advertising.

Check our informational brochure HERE.

Click here to access the Annual Circular on Asset Management and here to access the Questions and Answers (only available in Portuguese).

For more information, please contact us via email at rvr@ccsllegal.com

[Photo by: Pat Whelen, available at unsplash.com]