Regulatory Alerts2022-11-11
FSCA Exemption for Collective Investment Scheme Managers from Board Notice 90 of 2014 Requirements
The Financial Sector Conduct Authority (FSCA) issued an exemption notice permitting Collective Investment Scheme managers to invest in actively managed exchange-traded funds. This regulatory update amends Board Notice 90 of 2014 by waiving specific constraints that previously restricted CIS portfolios to passive, index-tracking instruments. The exemption enforces mandatory disclosure of active management differences and excludes synthetic derivatives to safeguard investors while broadening the domestic investment universe.
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