Regulatory Alerts2022-01-01
Collective Investment Scheme Code of 2022
The Securities and Exchange Commission of Sri Lanka issued the Collective Investment Scheme Code of 2022 to regulate the establishment, management, and operation of collective investment schemes within the country. The Code mandates prior written approval for all schemes, defines specific types such as open-ended and exchange-traded funds, and imposes strict requirements on managing companies, trustees, and custodians regarding capital, systems, and fiduciary duties. It further establishes comprehensive rules for public offers, marketing, asset valuation, reporting, and investor protection to ensure transparency and fair treatment of unit holders.
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