Regulatory Alerts2018-03-26
Notice 569 of 2003: Collective Investment Schemes Control Act Regulations
The Financial Services Board issued Notice 569 of 2003 to prescribe detailed operational and financial regulations under the Collective Investment Schemes Control Act, 2002. The notice mandates scheme managers to disclose specific income and capital data in financial statements, submit quarterly asset lists, and provide comprehensive annual reports to investors. Additionally, it establishes mandatory prior approval processes for promotional materials, outlines a comprehensive schedule of licensing and registration fees, and sets minimum due diligence standards for foreign exchange investments.
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