As 2025 enters its final quarter, global fund managers are adapting to a wave of regulatory updates reshaping cross-border fund distribution.
These evolving frameworks are crucial for maintaining compliance, controlling operational costs, and ensuring continued access to international investment markets.
To help firms stay informed, Zeidler Group’s Global Knowledge Hub (GKH) has released its latest monthly update, providing detailed insights into legal and regulatory changes across Europe and Latin America.
In Jersey, regulators have unveiled the new 2026 fee structure. From next year, applications for public offerings in the jurisdiction will be subject to an annual charge of £703.
Norway has implemented notable reforms benefiting UCITS and alternative investment fund (AIF) managers. As of 30 September 2025, the Norwegian regulator has abolished notification fees for UCITS and AIFs under Article 32 of the AIFMD. This means no fees are now applied to UCITS notifications under Article 93 of the UCITS Directive, or for AIFs and ELTIFs marketed within the European Economic Area.
However, certain charges remain in place for non-EEA funds — non-EEA AIFMs targeting professional investors will still pay NOK 15,000 under Article 42 of the AIFMD, while non-Norwegian EEA AIFMs marketing non-EEA or feeder AIFs face NOK 8,000. An annual charge of up to NOK 10,000 may also apply for authorised non-Norwegian AIFMs.
In Poland, regulators have streamlined the UCITS notification process by removing the requirement to submit the marketing memorandum and Additional Investor Information Document (AIID).
Meanwhile, in Latin America, Chile’s financial regulator, the CCR, has introduced two new resolutions that refine rules for foreign instruments. Resolution No. 60 states that investment funds must include at least five unrelated investors, and no investor or related group may own more than 35% of the fund. For mutual funds, this limit is set at 25%, with limited exceptions approved by the CCR.
Resolution No. 61 requires that 80% of an investment fund’s portfolio be invested in regulated market instruments, capping exposure to unapproved private equity or private debt at 5%.
These jurisdictional changes reinforce the need for fund managers to continuously monitor and adapt to new regulatory conditions. Even minor adjustments to fees or submission requirements can influence market strategy, compliance planning, and timing for fund entry into new jurisdictions.
The Global Knowledge Hub continues to serve as an essential resource for investment professionals navigating these changes. Covering over 80 jurisdictions, it delivers regularly updated, expert-driven analysis that helps firms translate regulatory shifts into clear, actionable compliance practices.
For more insights, read the full story here.
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