Regulatory Alerts2022-01-01
Rules Applicable to Investment Managers
The Securities and Exchange Commission of Sri Lanka issued these rules under the Securities and Exchange Commission of Sri Lanka Act, No. 19 of 2021, to regulate entities licensed as Investment Managers. The regulations establish a two-stage licensing process, mandate minimum financial requirements including shareholders' funds and liquid capital, and define strict qualifications for personnel making investment decisions. Furthermore, the rules impose comprehensive obligations regarding client agreements, conflict of interest management, segregation of client funds, and the maintenance of records for six years.
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