Regulatory Alerts2003-01-01
The Collective Investment Schemes (Financial and Accounting) Regulations 2003
The Capital Markets Authority issued these regulations to establish financial and accounting standards for licensed managers of unit trust schemes and authorized corporate directors. The rules mandate a minimum net capital of Uganda Shillings two hundred million, require the maintenance of accurate accounting records for seven years, and prescribe strict timelines for submitting annual, quarterly, and monthly financial returns. Furthermore, the regulations enforce robust internal controls, standardized audit reporting, and prompt notification of specified events to ensure ongoing compliance and regulatory oversight.
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