Asset Management—Termination of Funds: IOSCO Issues Consultation Report on Termination of Investment Funds; Seeks Comments on Proposed Good Practices

Sullivan & Cromwell LLP - August 26, 2016

On August 18, 2016, the Board of the International Organization of Securities Commissions (“IOSCO”) issued guidance on voluntary termination processes for investment funds. The consultation report, “Good Practices for the Termination of Investment Funds” (the “Report”), solicits feedback on proposed good practices on the voluntary termination process for collective investment schemes (“CIS”) and other fund structures. Along with the proposed “Good Practices,” the Report features a series of questions addressed to stakeholders soliciting feedback.