Comparative Guides

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4. Results: Answers
Alternative Investment Funds
1.
Legislative and regulatory framework
1.1
In broad terms, which legislative and regulatory provisions govern alternative investment funds in your jurisdiction?
Bangladesh

Answer ... In 2015 the Bangladesh Securities and Exchange Commission (BSEC) issued the Alternative Investment Rules on the registration and regulation of alternative investment funds (AIFs), fund managers and trustees, and any related matters.

For more information about this answer please contact: Muhammad Zeeshan Mohsen from Fillip Partners
1.2
Do any special regimes or provisions apply to specific types of alternative investment funds?
Bangladesh

Answer ... The Alternative Investment Rules apply to:

  • private equity funds, venture capital funds, impact funds and other types of funds that the BSEC declares to be AIFs from time to time;
  • privately pooled investment vehicles which collect funds from eligible investors to invest in accordance with a defined investment policy for the benefit of investors or closed-end funds with a specific tenure; and
  • funds rendered by collection and subscription by way of private placement that do not offer their units for public subscription.

No other special regimes apply to AIFs specifically.

For more information about this answer please contact: Muhammad Zeeshan Mohsen from Fillip Partners
1.3
Do the legislative and regulatory provisions governing alternative investment funds have extra-territorial reach?
Bangladesh

Answer ... The Alternative Investment Rules do not have extra-territorial reach, as they apply only to “alternative investment funds or funds established or constituted in Bangladesh”.

For more information about this answer please contact: Muhammad Zeeshan Mohsen from Fillip Partners
1.4
Are any bilateral, multilateral or supranational instruments in effect in your jurisdiction of relevance to alternative investment funds?
Bangladesh

Answer ... The Alternative Investment Rules are a new set of rules promulgated by the BSEC under the Bangladesh Securities and Exchange Commission Act 1993. No bilateral, multilateral or supranational instruments are in effect; however, the rules are modelled on international laws and best practices.

For more information about this answer please contact: Muhammad Zeeshan Mohsen from Fillip Partners
1.5
Which bodies are responsible for regulating alternative investment funds in your jurisdiction? What powers do they have?
Bangladesh

Answer ... The BSEC has jurisdiction over AIFs. Its powers are wide ranging and it has total autonomy.

For more information about this answer please contact: Muhammad Zeeshan Mohsen from Fillip Partners
1.6
To what extent do the regulators cooperate with their counterparts in other jurisdictions?
Bangladesh

Answer ... The BSEC generally cooperates with its counterparts in other jurisdictions – not only to learn and stay informed in relation to regulatory and market developments, but also to import best practices.

For more information about this answer please contact: Muhammad Zeeshan Mohsen from Fillip Partners
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Alternative Investment Funds