Regulatory Alerts2018-12-31
Added · Updated
Directive to Fund Managers on Guaranteed Returns
The Securities and Exchange Commission issued this directive to all capital market operators operating as Fund Managers, reminding them that the moratorium for Directive SEC/FM/DIRECTIVE/06/18 expires on December 31, 2018. Full enforcement of the directive regarding guaranteed returns commences on January 1, 2019, requiring strict compliance from affected market operators. The Commission warns that failure to observe these provisions will result in enforcement actions under Sections 122, 123, and 209(4) of the Securities Industry Act, 2016.
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