Regulatory Alerts2023-02-16
Frequently Asked Questions on Unit Trust Funds and CIS Prospectus Guidelines
The Securities Commission Malaysia issued this guidance to clarify implementation timelines, transitional arrangements, and key amendments to the revised Unit Trust Funds and Collective Investment Scheme Prospectus Guidelines effective 1 March 2022. It eliminates the mandatory investment committee requirement, specifies fit-and-proper criteria for oversight personnel, and defines submission protocols for exemption applications under standard and expedited authorisation tracks. Management companies must achieve full compliance by 31 August 2022, with extended deadlines until September 2023 for systemic upgrades, prospectus amendments, and risk management documentation, while all fund reports for periods ending June 2022 must immediately reflect the updated standards.