Regulatory Alerts2022-08-17
Added · Updated
Master Circular for Mutual Funds, Collective Investment Schemes, and Investment Advisory Services
The Securities and Exchange Commission of Pakistan establishes comprehensive regulatory frameworks for the digital onboarding of customers by Asset Management Companies, defining three account tiers with specific investment limits and verification requirements. It mandates strict due diligence procedures, including NADRA verification, sanctions screening, and digital identity checks, while setting maximum three-day turnaround times for account opening decisions. The circular further regulates digital distribution platforms by imposing design, information disclosure, and conflict of interest standards for entities distributing Collective Investment Schemes and Voluntary Pension Funds.
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