Regulatory Alerts2018-07-09
Draft Securities Industry (REITs) Regulations 2017
The Securities and Exchange Commission issued the Draft Securities Industry (REITs) Regulations 2017 to establish a comprehensive regulatory framework for Real Estate Investment Trusts under the Securities Industry Act 2016. The regulations mandate licensing for REITs, managers, custodians, and representatives, while imposing strict eligibility, fit and proper, and financial resource requirements on these entities. Furthermore, the document outlines detailed operational obligations including asset custody, director duties, public offer prospectus approvals, and continuing disclosure standards to protect shareholders and ensure market integrity.
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