Regulatory Alerts2021-12-21
Summary of Amendments to Guidelines on Compliance Function for Fund Management Companies
The regulatory authority issued revised guidelines on 21 December 2021 to update the compliance function requirements for fund management companies. The amendments primarily streamline rules regarding rebates and soft commissions to align with the Guidelines on Unit Trust Funds. Additionally, the document incorporates renumbering and rearrangement of existing requirements to improve structural clarity.
1 SUMMARY OF AMENDMENTS GUIDELINES ON COMPLIANCE FUNCTION FOR FUND MANAGEMENT COMPANIES (Revised: 21 December 2021) The following table provides a summary of amendments made to the Guidelines on Compliance Function for Fund Management Companies revised on 21 December 2021: A. General Amendments
- Revised requirements relating to rebates and soft commissions to streamline with Guidelines on Unit Trust Funds.
- Renumbering and rearrangement of current requirements in these Guidelines. B. Specific Amendments No. Reference in these Guidelines Comments Prior to 21 December 2021 Revision dated 21 December 2021
- Paragraph 11.15 Paragraph 11.15 Amended paragraph to streamline with the requirements on rebates and soft commission with the Guidelines on Unit Trust Funds.
- Paragraph 11.28 Paragraph 11.28 Amended paragraph to streamline with the requirement in Paragraph 11.15(iii).
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