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COLLECTIVE INVESTMENT SCHEME MANAGERS: DRAFT CONDUCT STANDARD OUT FOR COMMENT
- 24 November 2023
- Financial Sector
- SA Legal Academy
The Financial Sector Conduct Authority has called for input by 16 February 2024 on a draft conduct standard for collective investment scheme managers. Informed by recommendations in the IMF’s 2022 financial sector investment programme report, the standard is proposed as a temporary measure pending the enactment and commencement of a Conduct of Financial Institutions Bill apparently still being developed.
Against that backdrop, the document spells out a raft of requirements to be met by collective investment scheme managers in the context of:
- business principles
- governance and control (including risk management, compliance and internal auditing)
- portfolio development
- prospectus contents
- the appointment of a trustee, fiduciary or custodian, and
- trade execution and related party transactions.
Please click the links below for more information:
- draft conduct standard
- statement of need
- IMF report
- comments template
Published by SA Legal Academy Policy Watch
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