Regulatory Alerts2015-06-15
FAQ on the Requirements of the Guidelines on Issuance of Private Debt Securities and Sukuk to Retail Investors
The Securities Commission issued these Frequently Asked Questions to clarify the regulatory framework for the new Retail Private Debt Securities and Sukuk Guidelines, which consolidate previous rules for retail offerings. The document mandates that all retail issuances require a registered prospectus and a trust deed, while establishing a 40-business-day approval timeframe that includes prospectus registration. It further specifies that combination programmes targeting both sophisticated and retail investors are treated as retail offerings, and details operational requirements such as post-issuance notices within seven days and strict credit rating maintenance protocols.
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