Regulatory Alerts2023-01-20
Added · Updated
Master Circular for Mutual Funds, Collective Investment Schemes, and Investment Advisory Services
Asset Management Companies must implement a tiered digital account opening framework for Pakistani individuals, establishing Sehl, Sahulat Sarmayakari, and Sarmayakari categories with specific annual investment, cumulative, and transaction limits. The directive mandates distinct verification procedures, including NADRA checks, sanctions screening, and OTP authentication, while restricting Sehl accounts to Money Market and low-risk Income Schemes. Digital distributors are required to ensure platform robustness, manage conflicts of interest, and provide clear disclosures for investors accessing Collective Investment Schemes and Voluntary Pension Systems.
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