Regulatory Alerts2018-12-31
Directive to Fund Managers on Guaranteed Returns
The Securities and Exchange Commission mandates that all fund managers comply with its guaranteed returns directive after the compliance moratorium expires on December 31, 2018. Full enforcement begins January 1, 2019, subjecting non-compliant operators to penalties under Sections 122, 123, and 209(4) of the Securities Industry Act, 2016. This directive ensures rigorous oversight of capital market operations to protect investor interests and maintain a transparent, efficient securities market.
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