Regulatory Alerts2025-04-24
FSCA Communication 10 of 2025 (CIS)
The Financial Sector Conduct Authority (FSCA) has published FSCA CIS Notice 2 of 2025, an exemption for money market portfolios of collective investment schemes (CIS). This exemption excludes these portfolios from Chapter 2, Condition 8(4)(b) of Board Notice 90 of 2014, which requires the rate of instruments to be known in advance. This temporary measure facilitates the transition from Jibar to Zaronia and other new benchmark interest rates, allowing money market portfolios to participate in new forms of bank funding and avoid investment restrictions during the ongoing review of BN 90.
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