Regulatory Alerts2018-02-23
Guidance on Incorrect Pricing of Units in Collective Investment Schemes
The Isle of Man Financial Services Authority issued this guidance to mandate the recording and reporting of pricing errors in collective investment schemes. It requires managers and fiduciary custodians to report material errors, defined by factors such as exceeding a 0.5% threshold, to the Authority and to reimburse affected investors. The document outlines quarterly reporting obligations and clarifies that errors of minimal significance may be exempt from compensation payments.
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