Regulatory Alerts2020-01-01
Trustee Requirements for Managed Investment Schemes
The Reserve Bank of Fiji issued Capital Markets Supervision Policy Statement No. 8 to establish minimum requirements for companies acting as trustees of Managed Investment Schemes in Fiji. The policy mandates that trustees must be independent corporate entities approved by the regulator, with directors meeting fit and proper standards, to safeguard unit holders' interests through active monitoring and asset custody. It outlines specific duties regarding investment oversight, record-keeping, and reporting, while reserving the Reserve Bank's authority to approve, condition, or revoke trustee approvals.
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