COLLECTIVE INVESTMENT SCHEME MANAGERS: DRAFT CONDUCT STANDARD OUT FOR COMMENT

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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