FUND MANAGEMENT

Section 15 A and B Securities Industry Act (SIA) 1983 give the Securities Commission responsibility for ensuring orderly and efficient operations of the fund management industry. It effects this function through the issuance of licences for intermediaries in the industry.

Over the past few years the Commission had formulated several guidelines to facilitate this licensing process, in addition to a host of other guidelines. The guidelines included those pertaining to the establishment of local and foreign fund management companies, application of licences by intermediaries, registration of compliance officers and reporting requirements of fund managers.