Regulatory Alerts2018-03-26
CISCA Circular No. 6 to Foreign Collective Investment Schemes
The Financial Services Board’s Registrar of Collective Investment Schemes mandates that foreign collective investment schemes marketing in South Africa comply with updated risk management and disclosure requirements following the expiry of Notice 46 of 2007. Existing UCITS and non-UCITS schemes utilizing expanded investment powers must submit comprehensive control system documentation and home regulator approvals by 28 September 2007 for case-by-case review or automatic registration. New applications must similarly provide these risk parameters, while the circular explicitly de-links domestic regulatory development from foreign scheme approvals and supplies an appendix detailing required leverage and reporting standards.
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