Regulatory Alerts2014-01-01
Proposed Method for Allocating Foreign Currency Securities to Collective Investment Schemes and Determining Compliance
The Financial Services Commission of Jamaica proposes a methodology for securities dealers to transfer exempt foreign currency securities to Collective Investment Schemes under a special limited exemption. The document outlines a global limit for these transfers based on December 31, 2013 holdings and establishes compliance formulas for foreign currency restrictions applicable to both dealers and schemes. Additionally, it mandates quarterly Foreign Currency Investment Projections to monitor eligibility and enforce prevailing caps on foreign asset holdings.
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