Don't be too quick to count on a sell-the-news reaction, as it is over-anticipated and there are still too many bulls out there looking to jump in on weakness. We should have a better business environment and, hopefully, a greater level of certainty as the parties have no choice but to work together if they want to pass anything new. The market has been anticipating gridlock in Washington for a while, so now the question is whether we can continue to rally now that we have it.
Scope of authorisations 1 A management company shall apply for an authorisation for the management of a fund or an authorisation for the management of a fund together with the right to provide one or several of the following services: 1 the services specified in clause 9 2 1 of this Act; 2 the services specified in clause 9 2 2 of this Act; 3 the services specified in clause 9 2 3 of this Act; 31 the service specified in subsection 9 1 [RT I, The provisions of the first sentence of this subsection shall not apply to persons who apply for an authorisation of an alternative fund manager.
Review of applications for authorisations 1 If an applicant has failed to submit all the information and documents specified in § 14 of this Act or if such information or documents are incomplete or have not been prepared in accordance with the requirements, the Financial Supervision Authority shall demand elimination of the deficiencies by the applicant. Decision on issue of authorisation 1 The Financial Supervision Authority shall make a decision to issue or refuse to issue an authorisation within two months after receipt of all the necessary documents and information, but not later than within six months after receipt of the application for the authorisation.
Application for additional authorisation 1 A management company which already holds an authorisation of a management company and additionally wishes to commence provision of one or several of the services specified in subsection 13 1 of this Act Ex Dividend Day Share Option Tehingud apply for an additional authorisation from the Financial Supervision Authority.
Amendment of decision on issue of authorisation 1 Upon changes in the name, registry code, the address of the seat or place of business of a management company or upon amendment of documents specified in clauses 14 1 1 or 3 of this Act, the Financial Supervision Authority shall make a decision on amendment of a decision on issue of an authorisation specified in subsection 17 1 of this Act or issue of an additional authorisation provided for in § 19 of this Act.