Regulatory Alerts2018-03-26
Information Circular No. 26: Enforcement of Board Notice 92 of 2014
The Registrar of Collective Investment Schemes at the Financial Services Board has ended the phase-in period for Board Notice 92 of 2014 and will enforce strict compliance with its disclosure requirements starting 1 May 2016. Managers and trustees are directed to lodge all required materials via the online portal prior to use, with the Registrar clarifying that existing guidance notes do not override statutory obligations and must yield to the law. The Registrar further emphasizes that managers retain full liability for third-party portfolio materials and warns that future breaches will result in penalties or referral to the Enforcement Unit.
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