Fund managers face key Q4 2025 regulatory shifts

Fund managers face key Q4 2025 regulatory shifts

As 2025 enters its final quarter, fund managers face another wave of global regulatory shifts impacting cross-border distribution.

With evolving requirements around marketing, investor protection, and registration, asset managers must remain vigilant about jurisdictional changes that directly affect fund promotion and compliance processes.

Zeidler Group, which helps firms with investment funds law, recently explored what fund managers need to know in Q4.

To help navigate these developments, Zeidler has expanded its Global Knowledge Hub (GKH) with resources for September with updated insights and practical guidance.

The platform now includes new jurisdictional updates and a redesigned General Q&A section, giving fund managers a smarter way to address their most common regulatory questions.

From marketing submission reforms in Italy to distribution changes in Saudi Arabia, these updates are designed to make complex compliance requirements more accessible and actionable.

The enhanced GKH General Q&A section now provides structured answers to the most frequently asked questions regarding fund registrations and de-registrations, required fund documentation for UCITS and AIFs, and reverse solicitation considerations across European Economic Area jurisdictions.

Among the notable updates is Italy’s introduction of the DePub platform for fund advertising and marketing submissions. The platform went live on 1 September 2025, with a grace period until the end of the year to allow firms to adjust their compliance workflows.

In Italy, the financial regulator CONSOB has mandated that marketing materials for UCITS, including ETFs, must be submitted via DePub. Firms can continue to use email submissions until 31 December 2025, easing the transition period. Meanwhile, Saudi Arabia’s Capital Market Authority (CMA) has broadened opportunities for foreign funds by allowing CMA-licensed firms to conduct investment management activities and distribute foreign funds within the Kingdom.

In New Zealand, updated Private Placement guidance reflects new legislative requirements, notably expanding Anti-Money Laundering (AML) obligations for managers operating in the jurisdiction. Compliance with these new rules is essential for maintaining market access. Similarly, Israel’s Securities Authority (ISA) has issued new guidance clarifying what may be included in pre-marketing communications, explicitly prohibiting the inclusion of investment policy details, benchmarks, or liquidity terms in fund publications.

For more insights, read the full story here.

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