Regulatory Alerts2020-12-02
FSCA Draft Conduct Standard on Governance and Fit and Proper Requirements for Collective Investment Scheme Managers
The Financial Sector Conduct Authority published a draft Conduct Standard establishing ongoing governance and fit-and-proper requirements for managers of collective investment schemes. The standard mandates executive director appointments, clarifies independent director criteria, and introduces updated rules for risk management, conflict of interest, complaint resolution, and portfolio amendments or amalgamations. Stakeholders may review the draft standard, supporting statement, and comments template on the FSCA website during the public consultation period.
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