Regulatory Alerts2020-04-21
FSCA Communication 23 of 2020 (CIS): Expectations for Managers of Collective Investment Schemes During COVID-19
The Financial Sector Conduct Authority issued this communication to direct managers of collective investment schemes on maintaining regulatory compliance during the COVID-19 lockdown. Managers must promptly report and remediate value-at-risk portfolio breaches, utilize valid electronic signatures for supplemental deeds, and immediately disclose liquidity constraints from increased repurchase requests. The Authority also permits flexible investor communication channels, provided managers implement security measures to protect client data and maintain timely complaint resolution.
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