Regulatory Alerts2020-10-09
FSCA Draft Conduct Standard on Conditions for Investments in Hedge Funds
The Financial Sector Conduct Authority published a draft Conduct Standard prescribing mandatory conditions for retirement funds investing in hedge funds. The regulation requires that eligible hedge funds be administered by authorized registered managers, contractually disclose embedded derivative exposures exceeding one hundred percent, and receive expert board advice when necessary. Stakeholders may submit written comments using the provided template on or before 27 November 2020.
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