The Financial Services Commission (FSC) has proposed new guidelines for collective investment schemes (CIS) which cover unit trusts and mutual fund offerings in a bid to enhance regulatory oversight and better govern the $345-billion CIS industry.

These newly proposed guidelines are set to take effect on December 1, subject to transitional arrangements for some investment managers, with comments being heard up to August 22 by the FSC’s senior director for securities. The last major update for the CIS industry occurred in 2014 when the Securities (Amendment) Act, 2013, became the superseding regulations for all unit trusts and mutual funds.

“In our continued effort to improve our regulatory oversight, the Financial Services Commission is seeking to introduce new guidelines for Collective Investment Schemes (CIS). These Guidelines should be adhered to in conjunction with the Securities (Collective Investment Schemes) Regulations, 2013, the Securities Act and any relevant guidelines,” said the FSC consultation document.

https://www.jamaicaobserver.com/business/fsc-proposes-new-guidelines-for-collective-investment-schemes/