Regulatory Alerts2020-01-20
Circular on Appointment of Fund Managers for 18 Collective Investment Schemes
The Securities and Exchange Commission issued this circular to enforce the appointment of new fund managers for 18 Collective Investment Schemes after revoking their previous management licenses. Six mutual funds have already secured new managers and submitted required particulars, while twelve remaining unit trusts and mutual funds missed the January 2020 compliance deadline. The regulator will now consult the trustees and directors of these unappointed schemes to determine further protective measures for investors, with dedicated contact channels established for stakeholder inquiries.
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