Regulatory Alerts2018-03-09
Added · Updated
Amendments Proposed to the Financial Investment Services and Capital Markets Act
The Financial Services Commission proposes amendments to the Financial Investment Services and Capital Markets Act to relax investment restrictions on private equity funds and reduce compliance burdens on collective investment scheme operators. The changes allow collective investment scheme operators to deliver fund account statements to investors every six months instead of every three months. Private equity funds are permitted to invest in convertible preferred stocks and redeemable convertible preferred stocks, as the restriction on non-investable securities is limited to equity securities with voting rights. Additionally, collective investment scheme operators must file disclosures regarding remuneration for investment managers and their performance to enhance investor protection.
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