Selgitustaotlus

In accordance to § 70 subsection (1) clause 1) of Money Laundering and Terrorist Financing Prevention Act 1 entity is required to have authorisation for operating as a financial institution, excluding case, when entity have obligation for authorisation from Financial Supervision Authority (subsection (2) clauses 1 ) and 2 ) of paragraph named in this clause). In accordance to § 6 subsection (1) clause 11 of Credit Institutions Act 1 financial services are services to third parties rendered by a person in the course of professional or economic activities which consist of the conclusion of the following transactions and acts portfolio management and consultation on investment issues. In accordance to § 3 subsection (6) clause 1) of Investment Funds Act 1 manager of small alternative funds (hereinafter – small fund manager) is a fund manager which manages, either directly or indirectly through a company linked thereto by common management or control or qualifying direct or indirect holding, alternative funds which: volume of assets, including all the assets of the funds acquired by use of leverage, in total does not exceed 100 million euros. In accordance to § 9 subsection (1) of Investment Funds Act 1 a UCITS is a fund established or founded in an EEA Member State which complies with the requirements provided for in Directive 2009/65/EC of the European Parliament and of the Council and the units or shares of which may be publicly offered in all EEA Member States and they shall be redeemed at the request of unit-holders or shareholders. In accordance to subsection (2) of the paragraph mentioned in this clause, An alternative fund is any fund which is not a UCITS, pension fund or defined-benefit occupational pension fund. In accordance to § 10 subsection (3) of Investment Funds Act1 units of a limited partnership fund may not be publicly offered. So, limited partnership fund is an alternative fund, which may be managed by small fund manager. In accordance to § 306 subsection (2) of Investment Funds Act1 a small fund manager which manages a public limited fund or common fund must apply for an activity licence of a fund manager. In accordance to subsection (3) of the paragraph mentioned in this clause, If a small fund manager does not apply for an activity licence, it has to register its activities with the Financial Supervision Authority in accordance with the provisions of § 453 of Investment Funds Act1 . In view of foregoing, small fund manager, which manage only limited partnership fund shall comply with requirements specified in clause REF _Ref62162110 \r \h 1.6 , but has no obligation to apply fund manager license in Financial Supervision Authority. As was mentioned in clause 1.2 portfolio management (incl. acting as a fund manager) is activity of financial institution. As was mentioned in clause REF _Ref62157325 \r \h 1.1 , if fund manager doesn't have to apply license from Financial Supervision Authority, it shall be applied from Estonian FIU. Saatja: Šerle Õigusteenused <[email protected]> Saadetud: 04.06.2021 12:15 Adressaat: Rahapesu <[email protected]> Teema: Finantsinspektsiooni tegevusloata väikefondivalitsejad: finantseerimisasutuse tegevusluba vajadus Manused: FFA&FundManager.docx TÄHELEPANU! Tegemist on väljastpoolt asutust saabunud kirjaga. Tundmatu saatja korral palume linke ja faile mitte avada! Tere, ärikeskkonna uurides olin tuvastanud, et suurim osa Finantsinspektsioonis registreeritud väikefondivalitsejaid ei oma finantseerimisasutuse tegevusluba tegevusala liigiga «fondivalitseja». Mõned nendest on Eestis tegutsevad ettevõtted, nt: https://www.longrunassets.com - RAB tegevusluba puudub FI registreering: https://www.fi.ee/et/investeerimine- 0/investeerimine/fondivalitsejad/tegevusloata-vaikefondi-valitsejad/longrun-assets-ou https://startupwiseguys.com - on äriühingute teenusepakkuja tegevusluba (FIU000253) FI registreering: https://www.fi.ee/et/investeerimine/fondivalitsejad/tegevusloata-vaikefondi- valitsejad/wise-guys-ventures-ou https://www.fi.ee/et/investeerimine/fondivalitsejad/tegevusloata-vaikefondi-valitsejad/wise- guys-holding-ou Võimalusel palun Teid täiendavalt selgitada, kas usaldusfondi valitsemiseks tuleb Ettevõttele tegevusluba taotleda, või usaldusfondi valitsemine Eestis võib toimuda tegevusloata. Selguse huvides esitan ka väljavõtet oma poolt koostatud õiguslikust analüüsist. Lugupidamisega, Mihhail Šerle Jurist www.sherle.ee (+372) 59 002 529 Šerle Õigusteenused OÜ Tartu mnt 53-405, 10115 Tallinn [email protected] Antud e-kiri on konfidentsiaalne ning kaitstud.