Regulatory Alerts2020-03-16
Added · Updated
Notice on Cancellation Period for Units in Authorised Collective Investment Schemes
The notice requires the responsible person of an Authorised Collective Investment Scheme or the relevant intermediary to provide investors with a right to cancel a purchase agreement within 7 calendar days from signing. This cancellation right does not apply to non-individual investors, subsequent purchases by existing participants, switches, or second and subsequent payments in regular savings plans. The relevant person must disclose the cancellation rights in writing before the agreement is concluded and is prohibited from imposing sales charges, front-end loads, or penalties on investors who validly cancel.
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